I have listed a new property at 6 5988 WATERTON DRIVE in NANAIMO.
This is a lovely level entry 2 bedroom, 2 bathroom home in Parkwood. The living room, dining room and eating nook are all open concept and then there is a galley kitchen. The living room has a gas fireplace and there is a french door opening onto the back deck that even has some ocean views. The master bedroom has a 4 piece ensuite and then there is a 2nd bedroom, main bathroom and laundry room that complete the main level. There is a full basement with rec room and family room areas that could easily accommodate a 3rd bedroom. There is also a large storage area. The single car garage and driveway parking can accommodate 2 vehicles. This unit sits at the end of a no thru street with shopping and all levels of schools just steps away. This is a well run complex that allows buyers of all ages and pets.
"True charity is anonymous". This is a phrase I heard often from my dad . His point when saying it to myself and my siblings was to make us aware of the difference between someone doing something genuine or promoting themselves.
As realtors, marketing is a huge component of our business plan and there are various levels of it. For example, Elaine and I love to give gifts to our buyer's when they take possession of their new home. (Sometimes we forget so I'll appologize now if we've missed you.) Another gift we like to give is on the one year anniversary. These gifts we give for a number of reasons. The obvious ones are that we appreciate the business and we are genuinely excited for you. In these two cases there is also a subliminal level of marketing even though that is not the intention.
Like so many other people we also give the gift of our time. We chose charites or groups that are important to us as a way of giving back to the community we love. We feel very strongly about this and we do it with sincerity.
The difference between marketing and promotion is that marketing is an overall plan to make potential clients aware of your service or product. Promotion is a piece of the marketing strategy. In real estate this could be in the form of an open house or posting on social media.
Then there's what I call "passive marketing". This could be something offered that has a consequence of promotion. An example of this could be when we offer our event tents for functions. They are useful to the user but clearly a form of promotion as they have our business names plastered all over them.
Social media can be an amazing marketing tool. It can also be grossly misused. A good example of this is where an individual has done something for someone and feels compelled to share it publicly. This turns a charitable action into shameful self promotion. ("True charity is anonymous").
Another form of giving that is often misunderstood is the gift that is given with a business card attached to it. Make no mistake, this is pure promotion. The giver needs to be honest with themselves about this and the recipient aware of it. There is nothing wrong with this but lets call it what it is.
We strive to be mindful of these differences and Promote ourselves professionally, Market with integrity and give from the heart.
"True charity is anonymous"
Lindy and Elaine Real Estate Team
Expanding a mortgage rate stress test to all insured mortgages.
What it is
As of Oct. 17, a stress test used for approving high-ratio mortgages will be applied to all new insured mortgages – including those where the buyer has more than 20 per cent for a down payment. The stress test is aimed at assuring the lender that the home buyer could still afford the mortgage if interest rates were to rise. The home buyer would need to qualify for a loan at the negotiated rate in the mortgage contract, but also at the Bank of Canada’s five-year fixed posted mortgage rate, which is an average of the posted rates of the big six banks in Canada. This rate is usually higher than what buyers can negotiate. As of Sept. 28, the posted rate was 4.64 per cent.
Other aspects of the stress test require that the home buyer will be spending no more than 39 per cent of income on home-carrying costs like mortgage payments, heat and taxes. Another measure called total debt service includes all other debt payments and the TDS ratio must not exceed 44 per cent.
Talk to your mortgage specialist to see what this means for you.
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