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Valko Financial Ltd.

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Thinking about putting in a firm offer? Make sure you read this first.

The market is constantly changing these days, so if you asked me about affordability just a few weeks ago, I would have had a different answer, as the seller’s market has quickly shifted to a buyer’s market – for now, anyway. The key difference is that the inventory of available houses on the market in the Kitchener-Waterloo area – and many other places across the province – has kicked into high gear. This spring, many first-time homebuyers were quickly being priced out of the market due to multiple bidding scenarios that saw houses sell well over their asking prices. This was not an ideal situation for any buyer – let alone first-time buyers on a particularly tight budget. And while affordability was going by the wayside just a few weeks ago, so too were having a condition of financing and a home inspection included in the purchase offer. Weighing the …
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35% Downpayment… The New Conventional Mortgage?

If you’re looking to buy a new home, one of the most difficult things can be putting together a down payment for the mortgage. So how much do you really need to put together before you can get into the home of your dreams? Let’s take a look at some of the different options, with their various pros and cons.   0% Down – A Thing of the Past? If you’ve been in the housing market before, you might remember a time when banks offered extremely inexpensive mortgage options, including the “zero down payment” mortgage. Although these types of mortgages were extremely attractive for obvious reasons, you may remember a something called the Great Recession of 2008. The unfortunate downside to these mortgages was that far too many unqualified buyers were opting into mortgages they could not realistically afford. When these people defaulted en masse, it led, in part, to …
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Ion Express Train for Waterloo Region

3 Ways Transportation Will Make Waterloo Region Explode

  Waterloo Region and Hamilton are leading the way nation wide for real estate growth and there is no end in site.  According to the Province, every year 10 thousand people move to Waterloo Region.  Over the next 20 years the population of Waterloo Region is expected to grow by 200 thousand people.  It’s the equivalent of adding another community the size of Kitchener to the area.  This is obviously fueling the local real estate market. Agents actually camped out for a week to get a shot at buying properties in the area for clients from out of town.  There are a number of reasons this region is so attractive.   Kitchener-Waterloo offers a strong, diverse economy with great quality of life for residents and housing is still relatively affordable.  One particular strength is that the area is investing heavily in transportation infrastructure as it plans for growth.

Housing Prices Continue to Creep Up

Dr. Sherry Cooper is Dominion Lending Centres’ Chief Economist, and in her latest blog post, she looks at the recent mortgage rule changes, current market trends, and even the effects of the US Presidential election that could be felt here in Canada. It looks like more and more people are taking advantage of the high housing demand in our area, as the number of houses that were listed in October rises, as expected. NEW LISTINGS EDGE UPWARD The number of newly listed homes climbed 1.7% in October compared to the prior month. Led by a marked increase in the GTA, new listings increased in about 60% of all local markets. Housing inventory has been in acutely short supply in the GTA. The rise in new listings last month supported a rise in sales in the GTA and nationally. The national sales-to-new listings ratio at 62.9% in October, compared to 62.4% …
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We are one of the top 50 Brokerages in Canada!

I want to give a huge thanks to my team today.  CMP Magazine just named us one of the top 50 Brokerages in Canada! You can read all about us in the latest issue. Our team is committed to helping you reach your short and long term financial goals.  As I explain the article, humility and integrity go a long way in this industry.  Honesty and integrity are some of the values each of my team members hold to each and every day with our clients. Having a passion and a desire to truly help clients takes special attention and care. With each and every mortgage transaction, we strive to go above and beyond the competition. This is a huge honour for The Valko Team, and we are beyond thrilled!  It really is a privilege to help such amazing clients every day. -Tracy .  

Ottawa announces Changes to Slow the Housing Market

Yesterday, Ottawa revealed some new rules to mortgage financing in Canada that can affect the way that Canadians qualify for a mortgage, in light of the hot housing market that we have been seeing as of late.  These changes take effect on October 17th, 2016. Below, Dr. Sherry Cooper, Dominion Lending Centres’ Chief Economist goes over these changes, and how they could apply to you:   Yesterday, Ottawa unveiled major initiatives to slow housing activity both by potentially discouraging foreign home purchases and, more importantly, by making it more difficult for Canadians to get mortgages. As well, the Finance Minister is limiting the degree to which mortgage lenders can buy portfolio insurance on mortgages with downpayments of 20% or more. Ottawa has clearly taken out the big guns to slow housing activity, which is widely considered to be too strong in Vancouver and Toronto. Ironically, home sales have already slowed precipitously …
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Kitchener-Waterloo’s Housing Market is Getting Hotter by the Day

by Sandra Rohfrietsch   While it’s certainly easy to be intimidated by the prices that you might see as you browse MLS into the wee hours of the night, mortgage interest rates are still at a historical low.  If you’re looking at purchasing for the first time, you’re thinking, “What does that mean?!”  With rates as low as they are, the cost of borrowing associated with your mortgage is lower than ever before.  You also need to look at other fees that can be tied to different mortgage products.  For example, some mortgages don’t allow for additional or increased payments, while others allow you to pay down your principal mortgage amount by up to an additional 20% per year, saving you money over the lifetime of your mortgage. It’s important to recognize and understand these options and fees, and that is where a Mortgage Broker comes in.  Brokers and their …
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New Innovation Complex Coming to Kitchener-Waterloo!

Karen K. Ho The Globe and Mail Published Tuesday, Jun. 21, 2016 5:26PM EDT Kitchener-Waterloo is set to get a large new innovation complex specifically aimed at new hardware companies and exceeding the size of a pioneer facility in Shenzhen, China. The 475,000-square-foot project, named Catalyst137 after its Kitchener address on Glasgow Street, was announced on Tuesday by Frank Voisin, president of real estate investment firm Voisin Capital, and Miovision Technologies chief executive Kurtis McBride. This is a catch-all ASF view; only displays when an unsupported article type is put in an ASF drop zone Tech firm Miovision, which specializes in the collection and analysis of traffic data, is currently located in Kitchener, Ont. Mr. McBride said the idea for the almost five-hectare building started when his company went to its 120 employees for ideas on where they should move and the amenities they’d like in their new space. “They gave …
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While the banks can only offer you their own mortgage products, we have access to hundreds of options from Canada’s largest banks, credit unions, trust companies, and financial institutions.

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