James Hughes REALTOR®

James Hughes REALTOR®

James Hughes's blog

Important Mortgage Changes January 2018

New Mortgage Rules Effective Jan 1st, 2018

​         The Office of the Superintendent of Financial Institutions has made some changes this week that will make lending even stricter in the new year.

Important Financial Tips For First Time Buyers

Important Financial Considerations For First Time Buyers

How Energy Efficient Is Your Home, Orangeville???

 

         The Orangeville Sustainability Action Team and the Orangeville Public Library have launched a new power meter lending program. Kill-A-Watt® electricity usage meters are now available for loan to library members. The program offers a simple and expense-free way for residents to understand their home’s energy usage.

Free Smart Thermostat!

 

GreenON Installations Program       

 

Market Update - Is This The Crash?

Hey Everyone, 

         So July numbers are in and there has been a shift that may have an impact in the market going forward. Sales are down 40.4% and new listings are up 5.1% year over year from July 2016.  Although these numbers appear that supply is increasing, it has actually been a sizable drop in new supply from the 2 previous months when new listings were up 15.9% year over year in June and an astounding 48.9% year over year in May. 

Best Restaurants in the Orangeville Area

          This small town packs a big punch with some outstanding places to eat! There are currently 4 restaurants in this area that have been featured on Food Network's "You Gotta Eat Here!"  and I strongly recommend trying all of them! I have been to them many times and recommend them to everyone!

Market Update and Mortgage Rate Increase

           Numbers are out for June 2017 and the trend continues. Sales have dropped 37.3% from one year ago and active listings are up 15.9% from one year ago. While that sounds sizable, it's actually quite a drop from May where new listings absolutely flooded the market, up 48.9% from May 2016 - May 2017. This shows that while we are still in a blip of a buyers market, new listings have slowed down since last month and it could be a sign that sales might start to pick up again.

A Quick and Easy Way To Save Big- LED Bulbs

 

      One quick and easy tip to save big in the long run is to upgrade your lighting situation throughout your house. The newest technology in LED lightbulbs has surpassed the old CFL (compact flourescent -twisty looking ones) by quite a bit. These LED bulbs can brighten your house significantly, while consuming less power, giving off little to no heat and can have a lifespan of over 20 years. Adding up the savings in the potential of never having to replace a bulb for the remainder of owning that home is worth it alone.

Market Update June 2017

Hey everyone, 

       I had a lot of positive feedback from the last update so just wanted to give a follow up with some stats to show what happened in May with the Toronto Market.

Escalation Clause- What are they?

The use of escalation clauses can be controversial. For this reason, RECO wants to provide registrants with greater clarity around their use.

Although there is nothing in the Real Estate and Business Brokers Act, 2002 (REBBA) or its regulations that prohibits the use of escalation clauses, representatives must act carefully and conscientiously when advising their clients and customers about the use of an escalation clause, to ensure that they are making a well informed decision before using them or managing them with a seller.

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