Cheryl Woolley

1330 Justine Place is Sold!

2010-12-22T17:47:00Z

Glen Lake, Langford - I am pleased to announce 1330 Justine Place has been sold.

Open House at Justine Place on Saturday!

2010-12-08T08:23:00Z

Glen Lake, Langford - We invite everyone to visit our open house at 1330 Justine Place on December 11 from 12:00 PM to 2:00 PM.

Property information

Buying Verses Renting A Home

2010-12-02T19:17:00Z

When it comes to a home, you have two options: buy or rent. What is right for one person may not be right for another, which is why it's important to know which is the best option for your individual situation.

Why People Rent

There are a number of reasons why someone may either choose or be forced to rent, including sporadic or unpredictable income, a high debt-to-income ratio, a bankruptcy or foreclosure, unpaid collection accounts or judgments, frequent relocating for employment or the inability to save enough money for a required down payment on the purchase of a home.

Maintenance Matters

As a homeowner, you will be responsible for any maintenance or repair issues that arise. This is a big consideration when choosing whether to rent or buy. When you rent, the property owner is responsible for repairs and it may not always be obvious that these issues can be very costly.

How To Know When It's Time To Buy

If you have steady income with a good employment history, can provide a down payment of at least 5-10 percent of the purchase price and are current with all debts, it may be time to consider buying a home instead of renting. In some cases, the cost of rent may even exceed that of a typical mortgage payment.

When deciding to buy, job stability is a big factor. If your job does not require frequent relocation and you plan to live in the home for at least 5 years, you may want to consider making the purchase. If you need to relocate after that, you may have enough equity from the sale to use as a down payment on another home.

Home Buyer's Checklist

If you can answer yes to the following questions, you may be ready for home ownership. Your Realtor® can help you to find the perfect home based on your individual needs.

Have you been steadily employed for at least one year, but preferably two years?

Do you plan to live in the home long enough to build equity?

Can you provide a down payment and still have enough money left to pay for closing costs, utilities and home furnishings?

Are you current on all debts, including auto loans, credit cards, etc.?

In addition to any current debts that you may have, can you afford a monthly mortgage payment which will likely include property taxes and insurance?

Do you have the time to devote to shopping for a home and comparing interest rates from various lenders?

Have you checked your credit reports for inaccuracies and disputed anything that needs correction with each of the major credit reporting agencies?

The decision to buy or rent is a very personal one that can only be determined after a careful evaluation of your situation. A Realtor® can show you the perfect home and a lender can tell you whether or not you can afford it, but it's up to you to make the choice as to whether or not you are ready to make the move.

How to save almost $14,000 on your mortgage by making your coffee at home!

2010-11-18T22:19:00Z

Welcome to my Guest Blogger Victoria Mortgage Consultant Elizabeth Prins:

As a mortgage professional my first order to help my clients obtain a mortgage. Next I help them pay off their mortgages more quickly!

Most mortgages allow you to increase your mortgage payment and make extra payments. These extra funds are applied directly onto your principal.

Recently I arranged a mortgage for my client Susan who purchased her very first home. By foregoing her daily visit to Starbuck's, she is going to save herself almost $14,000 in 5 years.

Here's how:

Purchase Price: $299,000
5% down payment: $14,950
Mortgage request including CMHC premium: $292,997.58
35 year amortization
5 year term
3.44% fixed rate

Susan's monthly mortgage payment is $1,196.65
At the end of her 5 year term she will owe: $269,304.73

By switching her payment to a bi-weekly payment of $598.32
At the end of her 5 year term she will owe: $262,726.23
for a savings of $6578.50!

BUT.....
Susan increased her bi-weekly payment to $650
and in 5 years she will owe $255,405.80

For a savings of $13,898.93!

Susan is now making her coffee at home and using her travel mug and putting an extra $3.70 daily towards her mortgage.

Just wait until she gets her tax return this year and plunks that down!

Liz can be reached at:

Mortgage Depot

250-475-1166

www.mortgagesbyliz.ca

The Benefits Of Home Ownership

2010-11-18T20:50:00Z

The decision to purchase a home is exciting and a major investment for your future. Because there is only so much of it to go around, real estate is the top choice for many investors and the desire for most families. This article is designed to highlight some of the many benefits of home ownership and how buying a home can often turn the Home Ownership Dream into a reality.

One of the most profitable markets in real estate is rentals, which means that many families are paying to live in a home that isn't their own. In some cases, renting a home is necessary. For all others, the money that would be spent on rent could instead be used to pay a mortgage. In fact, monthly rent payments often exceed that of a typical mortgage payment. One of the greatest benefits of home ownership is putting money into something that you can call your own and knowing that the monthly payments are going toward your home's equity.

Speaking of equity, many properties experience a growth in value as more development moves into the area or the economy strengthens through an increase in job opportunities. If this happens, home values soar and owners can bask in the glory of their newfound profit. When you purchase a new car, it depreciates the moment that you drive off of the lot. When you buy a home, however, it has the potential to appreciate year after year. There are few things in life that can offer you a return above and beyond your original purchase price, but a home can.

When you own a home, you will enjoy the freedom of decorating and making any changes that you choose without needing the permission of a landlord or property owner. In addition, you may even be able to use your home's equity to finance some needed improvements and/or repairs. In some cases, these changes may even increase the value of your home. An upgraded kitchen or bathroom, hardwood flooring or an additional room are examples of changes that could result in added value.

In addition to providing yourself and your family with a feeling of stability and permanence, home ownership can also help strengthen your credit profile through timely mortgage payments and a steady financial history.

For more information contact:

Cheryl Woolley

DFH Real Estate Ltd.

250-477-7291

www.cherylwoolley.com

Open House in Langford on Saturday

2010-11-16T17:04:00Z

Glen Lake, Langford - We invite everyone to visit our open house at 1330 Justine Place on November 20 from 2:00 PM to 4:00 PM.

Property information

New Listing in Glen Lake, Langford

2010-11-13T19:17:00Z

Family Friendly Neighbourhood!

• 2,219 sq. ft., 3 bath, 4 bdrm bi-level - MLS® $439,900

Glen Lake, Langford - If you love to redecorate, this 4-5 bedroom family home will definitely excite you! A solid 70*s built home featuring a newer roof & natural gas furnace, fireplace & hot water tank. Main level has 3 bedrooms, with an ensuite off the master. Lower level is finished with a family room, 4th bedroom, large office/den and can be very easily turned into a suite.

Large Laundry/workshop/storage room is conveniently entered from the car port & yard. There is a large deck and sunroom off the dining room, with access to the back yard as well. The yard is private, treed & fully fenced making this a perfect home for young families.

Great opportunity to live in an established, friendly neighbourhood on a quiet cul-de-sac with access to a municipal park & trails. With all the basics and more, this great home is awaiting its makeover!

Property information

Buying Your First Home - It's Easier Than You Think!

2010-08-27T21:23:00Z

Our next 1st Time Home Buyer Seminar is coming up Sept. 15th!

To register call (250) 478-8384 & quote course number 63023 or register online.

http://onlineca.activecommunities.com/juandefuca/Activities/ActivitiesCourseDetails.asp?cid=66702

PRICE REDUCTION & OPEN HOUSE at 4036 Shelbourne!

2010-05-11T20:04:00Z

Mt. Doug, Saanich East - We invite everyone to visit our open house at 4036 Shelbourne on May 15 from 2:00 AM to 4:00 AM. This home is priced to sell quickly at $549,900.

Property information

560 Walter is now Sold!

2010-04-29T06:54:00Z

Tillicum-Gorge, Saanich West - The single story at 560 Walter has been sold. Thank you to all who expressed interest in this home.

Property information

Price Reduced on 905 Gade Road in Langford, Florence Lake

2010-04-01T18:10:00Z

Florence Lake, Langford - Announcing a price reduction on 905 Gade Road, a 3 bedroom, 2 bath rancher on 1/3 acre. Now $455,900. Excellent value - shop and compare other homes in this price range!

Property information

Open House in Florence Lake on Saturday

2010-03-28T08:16:00Z

Florence Lake, Langford - We invite everyone to visit our open house at 905 Gade Road on April 3 from 1:00 PM to 3:00 PM.

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Rancher For Sale in Florence Lake on 1/3 acre

2010-03-22T19:49:00Z

Country Charm, City Convenience

• 1,334 sq. ft., 2 bath, 3 bdrm $467,900

Florence Lake, Langford - All the comforts of living in the country are right here in this well kept 3 bedroom, 2 bath Rancher set high on a large private lot, just minutes to downtown. Great location, close to walking trails, Florence Lake & Lakewood Elementary.

Wonderfully bright home features 2 skylights, newer floors, large kitchen with pantry & cozy wood burning fireplace. Well designed floor plan makes this home feel very open & spacious. Outdoor enthusiasts will be delighted with over 520 sq.ft. of decks & patios overlooking the large level fenced backyard with playhouse & 2nd shed. Offering plenty of room to plant gardens, play games & hang a swing, this property is sure to create fond memories for your family.

Floor plan available.

Property information

Costly Selling Mistake #6

2010-03-07T21:23:00Z

Not being aware of what your are signing. Real estate contracts are legally binding, complex & confusing documents. If you are not fully aware of what you are signing, it could cost you thosands of dollars. Do you know what your responsibiities will be in the terms & conditions of an offer? Will there be any problems transferring title to the new buyer? Knowing the answers to these types of questions can save you time, money & headaches.

Tips for Buying in a Tight Market

2010-02-26T21:33:00Z

Anyone who is looking to purchase a property in the Greater Victoria area in the last few months is bound to have noticed how quickly homes are being snapped up, and the rise in instances of multiple offer situations.

I've pulled together the following information to help you increase your chances of homeownership in our hot market. And remember, I am always just a phone call away if you have ANY questions.

Tips for Buying in a Tight Market

Increase your chances of getting your dream house in a competitive housing market, and lower your chances of losing out to another buyer.

1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.

2. Stay in close contact with your real estate agent to find out about the newest listings. Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.

3. Scout out new listings. Check your email notifications daily, and drive through neighborhoods you like to spot For Sale signs. If you see a home you like, write down the address and your real estate agent will schedule a showing.

4. Be ready to make a decision. Spend a lot of time in advance deciding what you must have in a home so you won’t be unsure when you have the chance to make an offer.

5. Bid competitively. You usually only have one chance to make a bid. You may not want to offer the absolute highest price you can afford, but don’t go too low to get a deal. In a tight market, you’ll lose out.

6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. Talk to your lender about financing options if you have a home to sell.

7. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy it. And even though you want to make your offer attractive, talk to your real estate agent about which conditions would be okay to waive and which you should keep in each situation.