Merry Christmas

 I would like to thank you for following my Blog.  As we head into 2013,  I wish you a Merry Christmas and a Happy New Year to all my  Blog followers in the many different countries.
If you would like different or specific information about Canadian Mortgages please email me with your questions.
akroemer@mortgagegroup.com

Thank you


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Investment Property For The New Year?

Is 2013 going to be the year you add in an investment property to your portfolio of investments?
Interest rates are still low, so is it time to take advantage of a low rate mortgage payment,
making it more affordable and profitable to buy an investment property?
As with all other investments, it pays to study the market and gather all the information that you can.

Here are some tips for purchasing an investment property:

Do your research. If you are a first-time investor, it would pay to study the market as well as the risks and benefits of investing in properties. Be sure to brush up on the basics, such as the various factors that affect property prices and how these cause prices to rise or drop. Also pay attention to trends and news on the market and understand how these can influence the market. It's really important to become familiar with the ins and outs of the real estate business before buying investment properties as thorough preparation is one really good way to ensure success in the business.

Choose properties in a promising area.If you have done your research right, you will eventually come across "promising" areas where you can buy properties that will yield great profits. Promising does not necessarily translate to upscale properties that fetch high sale or rental prices, or cheap investments that allow you to return your investment quickly. A promising location is one that offers special features that are truly attractive to tenants. These features include schools for families, entertainment hubs for young professionals, or low-cost housing for college students. These promising features may differ with each type of tenant, and as such, you will have to...

Consider the type of tenants in the area. It may be tempting to choose a piece of properties based on what you would want yourself, but it's best to think of what your target tenants would like instead. When choosing properties, ask yourself what features your tenants would like or need. For instance, if you are catering to the college crowd, easy access to amenities, such as Laundromats, grocery stores or coffee shops may be important. If you plan on having families or young professionals as tenants, the property features you need to prioritise will change accordingly.

Take into account future expenses. As an investor, you need to carefully consider the expenses that will later on influence how much you earn from your investment. These include expenses for home repairs or renovations to make the house attractive to tenants and the taxes you will have to pay for on a regular basis. Make sure to include all these into your cost calculations to ensure that you will be able to afford purchasing the property and eventually earn back your initial investment.

Find a mortgage professional. They will let you know how much you will be able to afford, plus the interest rates will usually be lower than of a Banks interest rate, enabling you to profit the most.

Find a Realtor knowledgeable in the area of investment properties. Their expertise is usually because they have entered the investment property market and you can learn from them first hand all about what worked and what did not work for them. Could save you thousands of dollars.

Any questions, send me an email
akroemer@mortgagegroup.com

 

 

New Year's Resolution -Toastmasters May Be One

 

 

The Definition of a New Years Resolution is : A New Year's resolution is a commitment that a person makes to one or more personal goals, projects, or the reforming of a habit. A key element to a New Year's Resolution that sets it apart from other resolutions is that it is made in anticipation of the New Year and new beginnings. People committing themselves to a New Year's resolution generally plan to do so for the whole following year. This lifestyle change is generally interpreted as advantageous.

Last year I made a new years resolution to join Toastmasters. It took me until March to fulfill that resolution. Every week that went by, I had some excuse, In the Comox Valley where I live we have 3 different clubs- meeting different days, so it wasn't the lack of choice of the day that stopped me it was the fear of getting into the unknown. The big fear of speaking in front of strangers.

That first Wednesday in March, I took those fears, stifled them and headed to the Toastmasters meeting. I knew no one but I knew I wanted to become a better speaker.

I was warmly welcomed by the club, everyone introduced themselves and a member took me under their wing, introduced me to the club and sat beside me explaining what was happening as the meeting progressed. I did not feel confident enough to speak that evening and that was okay. Their is no harsh push for you to speak. It is a go at your own pace type of club.

The next week, I had a no excuse for not going. Let me tell you, I was looking for any excuse but could not. The club was warm and inviting, so I went.
In Toastmasters there is Table Topics, which is a time to practise speaking for up to 2 minutes without preparation. Thinking on your feet they say. You are asked a question usually to go with the theme of the evening and you answer the question to the best of your ability. The first night I went 26 seconds and that was fine. But, also that night I saw how much I needed the expertise of this club and their members to help guide me to become a better speaker.

I joined that night and I have never looked back.

There is a small fee when joining to pay for your books and rental of the room you meet in. The club I belong to is is less than $100.00 every 6 months. A bargain for sure.

What have I accomplished in 9 months at Toastmasters?
- Table topics for 2 minutes no problem
- Preparing and organizing a speech for 5-7 mins
- Preparing and organizing a educational speech for 8-10 minutes
- Prepared speech for 5-7 minutes without the use of notes (you can use notes for as long as you want)
- a confidence in speaking
- confidence in life itself
- new friends
- Leadership skills
Not bad for 9 months

Anyone and everyone can benefit from Toastmasters. Toastmasters is international. It is hard not to find a club in your area. Maybe this year is your year to join.

http://www.toastmasters.org This link will take to their introductory page as well as a club finder


Got questions about Toastmasters-- send me an email.

akroemer@mortgagegroup.com


So, What will be your New Years Resolution?

Welcome to NORAD Tracks Santa--Don't be disappointed- find out where Santa is

 

<iframe width="560" height="315" src="http://www.youtube.com/embed/jb0gj_sIBdg" frameborder="0" allowfullscreen></iframe>

 

 

 

 

Welcome to NORAD Tracks Santa

 

All of the preparations for Santa's journey are in place!

Santa's elves have been busier than usual this year preparing for Santa's launch on December 24th! Return each day to receive updates from the North Pole and to discover new surprises on Santa's Activity Page.

For even more fun holiday activities, visit the About Santa page.

Operation Good Will: Find out how you can help make this Christmas very special for those who serve our nation. Check out what each military service is up to these days, and learn how you can help keep NORAD Tracks Santa going for future generations!


Find out what NORAD does the rest of the year (while not tracking Santa) by subscribing to us on Facebook -- or visit us at www.norad.mil.

Track Santa on your Mobile Phone!
Download the official NORAD Tracks Santa mobile apps today!

Download the official NORAD Tracks Santa Windows 8 app!

"I Tracked Santa"
Official Licensed Products!

Contact NORAD Tracks Santa | Privacy Policy | Pressroom

Wow Congrats TMG The Mortgage Group Canada

TMG The Mortgage Group recognized for a third time in 2012
 

This year Grant and Debbie Thomas (co-founders of TMG The Mortgage Group) won the Mortgage Broker's Association of British Columbia's (MBABC) Pioneer Award for Lifetime Achievement, and then TMG  was honoured with CAAMP's Partners In Excellence Award, They have done it again. TMG has been recognized as one of the Best Companies to Work for in B.C. The gala presentation was held on November 28, 2012 at the Fairmont Hotel in Vancouver.

Winners are selected through a year-long process. The survey focuses on four key areas: Talent Systems, Employee Engagement, Leadership Dynamics and Organizational Culture. In addition to top overall rankings, TMG placed second in the Financial Services category.

'This award is a reflection of the hard work and dedication of our many employees'.

10 Best Companies to Work For: Finalists With More Than 100 employees

1. HootSuite Media Inc.

Digital Tech and Tech Services

When the number of employees in your company grows 900 per cent in less than a year, then “I don’t care what it is you do; you’ve got a new company culture,” says Ambrosia Humphrey, director of human resources at HootSuite Media Inc.
Handling the hyper-growth is all in a day’s work for Vancouver’s tech company on steroids, which recently hit four million users and launched a London office and U.S., Australian and European subsidiaries. The company is also pulling up its Gastown roots for a much bigger office space at Ontario Street and Eighth Avenue in Vancouver – complementary neighbourhoods, says Humphrey, because “we didn’t want to alienate anybody by moving to Burnaby and having our employees commute an hour each way.”
According to Humphrey, CEO Ryan Holmes emphasizes a user-centric product and an employee-centric company, which includes quarterly employment-engagement surveys. “Even our name was crowd-sourced,” she says. The result is that HootSuite feels “like a functional family,” according to one staffer. Another employee recalls a situation where a colleague wasn’t performing or happy in his role, but “letting him go wasn’t even discussed; the company simply transitioned him to a role that was a better fit.” Perks include last summer’s all-inclusive company retreat (including interns), the $300 a month made available for a social event and surprise Christmas gifts. Plus, all full-time employees have options in the company.
At the end of the day, Humphrey says HootSuite’s culture is “the glue that holds us together. We want our employees engaged in that culture so it feels real.”

2. Daniel Hospitality Group

Hospitality

Daniel Frankel certainly understands that hospitality lies at the heart of the restaurant business and treats his staff accordingly. “It’s always been an inherent part of our culture to cultivate a family-style environment,” explains the president and CEO of Daniel Hospitality Group. That extends to inviting all staff to lavish family dinners his company throws every Thanksgiving and Christmas, where managers cater to front-line staff, many of whom have no local family.
The Daniel group of restaurants began in 2001 with a hot- dog cafe in Coal Harbour. The following year Frankel took over The Prospect Cafe at Prospect Point in Stanley Park and he has since amassed a collection of iconic locations, including The Mill Marine Bistro on the Coal Harbour seawall, Stanley Park Pavilion facing Malkin Bowl and the Burrard Bridge Bar & Grill. His latest addition is the Tap & Barrel at Olympic Village and a Tap & Barrel at the convention centre is under construction.
Cultivating a family vibe starts with hiring: “We are truly careful who we bring on board, and we invest a lot of time in training,” remarks Frankel. “If there’s any hesitation, or indication that they’re going to be a weak link, we make sure that they move on because there’s probably something better for them.”

3. Para Space Landscaping Inc.

Consumer Services

Not everyone enjoys working outside with soil and plants year-round, but Para Space Landscaping goes out of its way to find people who do.
“We put a lot of stock in the culture of the company,” says Jeff Foley, executive vice president, whose role includes overseeing operations and personnel. “We hire for quality of person first. From there we often have to train them to be horticulturists or landscapers.”
That devotion to career development and continuous improvement is recognized by employees, many of whom cite company-sponsored Red Seal accreditation and training and certification in such specializations as pesticide application and horticultural technician. Working on cutting-edge landscape designs is another big draw for employees.
From when the company was founded in 1979 – by president and CEO (and father of Jeff), Peter Foley – to its current staff of more than 100, it has maintained a close culture. “We do a really good job of hiring people that fit with the rest of the group,” explains Foley. “When we’re screening people, we think, if Para Space were a person, would they be friends with this candidate?”


4. Cactus Restaurants Ltd.
Vancouver | Hospitality | 1,751 employees
British Columbians love Cactus Club restaurants for their celebrity chef, delicious fish tacos and nubile wait staff. Its loyal staff, however, are there for the great wages and tips, and growth opportunities within the company and industry. “A great training program” comments one employee, while another trumpets “strong leadership,” calling the company “a well-oiled machine.” Management get consistent kudos from employees for being both supportive and accommodating with flexible schedules. What one staffer calls the company’s “vibrant, youthful atmosphere” is a magnet for many, not to mention what a lot of employees call “great” and “consistent” food, which even non-staffers can attest is true.

5. Joe Fortes Seafood & Chop House Ltd.

Vancouver | Hospitality | 150 employees
Though it recently changed ownership, Joe Fortes Seafood & Chop House continues to attract the best in the restaurant business. “My hard work doesn’t go unnoticed,” says one employee, while another cites its “great benefits package for hourly servers” as another reason why the company retains so many long-term employees. In an industry where the front-of-house staff (servers and bartenders) are often a world apart from the back-of-house, or kitchen staff, one staff member notes, “The teamwork mentality between FOH and BOH is very present, which isn’t common in this industry.” Most notably, a respect of work/life balance was highlighted by many staff.

6. TMG The Mortgage Group Canada Inc.

Vancouver | Financial Services | 146 employees
TMG’s mantra is to find mortgage options to suit the distinct financial realities of each of its clients. For its staff, however, TMG delivers what one employee calls a “big-company presence with the feel of a small, family-like organization.” Staff are encouraged to keep learning and TMG offers educational programs so brokers can continually upgrade skills, which translates into more income during slow times in the industry. Employees are also encouraged to uphold ethical values and “not to break the rules to get a sale,” explains one staff member. “I believe this to be the most ethical company in the mortgage business,” another says.

7. Nurse Next Door Home Healthcare Services Inc.

Vancouver | Health Sciences & Services | 211 employees
Nurse Next Door got its start in 2001 after co-founders Ken Sim and John DeHart couldn’t find appropriate care for their elderly loved ones. Today the two have built Canada’s largest franchised in-home care service and the personal caring at the heart of the enterprise weaves its way through the entire organization. “We have a culture of caring,” says one employee, “everyone we work with has a big heart.” Another notes, “Nurse Next Door makes me feel part of something special. Every day I feel that I am making lives better by living the core values of the company.”

8. Odlum Brown Ltd.

Vancouver | Financial Services | 225 employees
Founded in Vancouver in 1923 by General Victor Wentworth Brown and Malcolm “Buster” Brown, Odlum Brown has grown to be one of Canada’s most respected independent investment firms. Wholly owned by its employees, the firm fosters a culture of pride and respect. “There is a culture of integrity throughout the firm,” notes one employee, while another says that “Odlum Brown’s community involvement and great track record make it a company where the employees are proud to say they work there.” Perhaps most important is the company’s respect for its employees, summed up simply by one staff member: “I feel appreciated.”

9. Global Relay Communications Inc.

Vancouver | Digital Tech and Technology Services | 196 employees
In the heavily regulated financial services industry, safe, accurate and thorough archiving of communications is essential and increasingly complex. Global Relay Communications develops cutting-edge technology to keep one step ahead of international competitors, which fosters an obvious pride among its staff. “In a very competitive industry, Global Relay has become dominant worldwide in providing critical services to the world’s fussiest and most secretive industry, requiring technical superiority, great marketing, absolute integrity, amazing vision and great determination,” boasts one employee. Another cites “extremely smart, knowledgeable, fun people to learn from and opportunities to mentor less experienced staff.”

10. Great Little Box Co. Ltd.

Vancouver | Manufacturing and Transportation | 161 employees
The little company that could is well known for its culture of inclusivity, which last year included a “family” vacation to Mexico for its entire staff as a reward for meeting annual goals. Even as the manufacturer of packaging products and shipping supplies has grown from its humble beginnings, it remains an open book to all employees. “We know where the company stands,” comments one employee, citing monthly meetings where staff are briefed on the latest financials. Another cites confidence in employees: “We are all encouraged to be strong leaders, make decisions, take action
 

Survey Says-- You Want To Know More about Financing a Home

 

The #1 comment I get is -- I just want a simple mortgage !
Mortgages are far from simple mainly due to each mortgage being different because everyone has different circumstances. It is a big loan for a home, and Financial Institutions want to know they will get their money back. They are not interested in owning your home if a default should happen. It is more headaches for them.

1. So What Should You Do If You Want To Buy

Get your financial information in order.
- Make sure you have pay stubs, T4's, Assessment papers from your income tax
- Know what your savings are
- Got RRSP's - you may be able to use them for your down payment
- Know what you owe in credit cards, car payments, personal loans

2. Make an Appointment With a Mortgage Professional

A Mortgage Professional will help you get the needed information on financing a home for your circumstance. They cannot give you accurate advise without the accurate financial information. That is the main reason, they pull a credit score right away. It gives them the information needed on who you owe and how you have managed your credit in the past.

3.Your Credit and The Mortgage Professional Services

A home is a big investment. You will spend at least 15-25 years paying for your home. To predict if you are a good risk the Financial Institutions look at your ability to pay now and in the future, also by looking at your past in relation to your credit score and how you managed past credit.
Most people have had a rocky period when it comes to their past credit, due to unpaid cell phones, divorces, job loss, etc. That is just part of what happens in Life. The Financial Institutions understand that. That is why once you have had a hardship, you are able to build up your credit score once again.
Most clients I ask about their credit score, don't know what it is or how it applies to them. It is a huge mystery to most people. That is why it is so important to work with a mortgage professional, so they can guide you. If you go to a Bank, the conversation is yes or no. The mortgage professional on the other hand will advise you on what to do next. What can you do to get your home? A mortgage professional will let you know. The job of a mortgage professional in simple terms is to find you the best mortgage and to secure financing for your home.

4. What is Involved In Financing

-income -the ability to pay a monthly mortgage
-paperwork from the past 2 years-- Notice of Assessments, T4's, a record of savings or where the down payment will come from, bank statements, letter from your employer, credit report from your mortgage professional
-good credit score

5. Why Does It Say 5 Year Term/ 25 Year Amortization?

Is my mortgage paid off in 5 or 25 years?
A mortgage is usually long term so the correct answer would be 25 years. Because, the mortgage is so long in a time period, you have the ability to break it down into shorter terms to reflect the newer interest rates and the new options that have been put into place. A 5 year term is the most common term in a closed fixed mortgage.

Is That good?
It is nether good or bad. For right now the interest rates are low, when you renew in 5 years from now chances are you will be renewing at a higher interest rate. Although if you have had a mortgage previously and your mortgage is now coming due, you would be getting a lower interest rate then what you had previously. It is all about timing that no one can control.
For options that usually is better for you. We now have more liberal prepayment clauses then we did 5 years ago. It is always a good idea to talk to your mortgage professional about 3-6 months before your mortgage needs to be renewed. They will watch the market for you to time a better deal for renewing.


How Much Does A Mortgage Professional Cost?

The services of a mortgage professional is free. The financial institutions pay the mortgage professional when a mortgage is secured. So unless you have an extreme case, you will not pay for any of these great services. The mortgage professional will disclose to you at the start if they require payment for securing a mortgage for you.

When Buying a Home What Do I Pay For?

-Closing Costs-- lawyers, property transfer tax, home inspections
If needed-- home appraisal, well inspections, septic inspections
For closing cost a budget of 1.5% of the purchase price is usually enough to cover this expense.


Of course, if you should have a specific question please email or call me.

akroemer@mortgagegroup.com
1.250.650.4182

What's New With CHIP?

 

 

What is a CHIP Mortgage? CHIP Home Income Plan?

Through the CHIP Home Income Plan, homeowners 55+ can access up to 50% of the current appraised value of their principal residence. The exact amount available will depend on the age of the homeowner and his or her spouse as well as the location and type of home.

The funds are tax-free and there are no restrictions on how they can be used – with the exception that any outstanding loans secured by the home must be paid off. You might use the money to invest, to renovate your home, or simply to improve your lifestyle.

Homeowners can choose to take a lump sum or to receive payments over time. No regular repayments are required; the loan does not become due until the home is sold or both homeowners move out. Interest is added on to the original amount borrowed. When the amount is repaid, all remaining equity in the home belongs to the homeowners (or their estate).

You continue to own your home. There is no change in title. You also remain responsible for property taxes, home insurance, and all your regular household bills and home maintenance.

What's New With CHIP?

We have reduced our legal, closing & admin costs – to $0 where a client initially chooses a 5 year interest term; and to $795 where a client chooses an initial 3 year interest term.

How Does The CHIP Advances Get Paid Out

Just a reminder that CHIP clients have a number of different options for receiving their CHIP advances:

(1) can take the full amount approved all in one lump sum, or

(2) can take an initial lump sum ($20,000 minimum) and take the rest later (optional). They can take the rest in two ways: (a) in lump sum draws of at least $10,000 each time, and/or (b) as monthly draws of $500 and up (ie. like an income), or

(3) right from the start, they can take their full CHIP in fixed monthly/quarterly draws of at least $1,000

CHIP advances are not regarded as income for income tax purposes. So, they don’t affect any government benefits customers may be receiving.

These options # 2 & 3 might work well for those who are not comfortable with the risk involved in investing money for income; but would like to have extra monthly income. For example, clients who would like to be able to afford some in-home care so they can stay in their homes longer.

Want more information? Call or email
1.250.650.4182
akroemer@mortgagegroup.com