|
"Real
Estate Bits - 2"
June
2008
Money Matters
Presented By: Nino Pasquariello - Manager - Scotiabank
Yonge and Eglinton Branch
(416) 932-3885 #7000
E-Mail:
nino.pasquariello@scotiabank.com
How To Make Your Dream Vacation A Reality
Whether you are planning a summer holiday or a once-in-lifetime adventure, there's no better time than today to start planning your vacation.
Unlike last-minute getaways, most trips require some careful planning - deciding on your destination, determining what it will cost, and then creating a savings plan to make it real. Here's how to go about it.
The Planning Stage:
Deciding on your destination is the fun part of the planning process. The Web has made researching your options a whole lot easier - whether your heart is set on a lively Mediterranean cruise, a kayaking eco-adventure in Greenland, or a family trip to Florida.
Next, you'll need to create a realistic estimate of what your vacation will cost. In addition to airfare, lodging, food and local transportation, remember to budget for items such as gifts and souvenirs, tips, airport fees, tours and entertainment, plus any specialized gear you may require.
Use the Internet to find a wealth of advice and information from actual travellers - not only about potential destinations and experiences but about costs as well. Read forums, blogs, and reviews on travel websites. Travel agents and tour operators are also valuable resources.
You should also check the deals (including package deals) offered on airline and hotel websites, as you may be able to realize some savings if you book directly.
Savings And Booking Tip: If you're planning on going to a popular destination, such as Europe in the summer, you need to book well in advance to guarantee a seat. Booking in advance will typically save you some cash.
Time To Save:
Once you have an idea of what your dream vacation is going to cost, it's time to start saving. If your target seems overwhelming, remember that even a few dollars put aside here and there can add up quickly. You probably have developed your own ideas for reducing your spending. Here are a few more to get you going.
Eat In: Cut back on restaurant spending. A good place to start is to bring your lunch to work. Cooking and freezing meals ahead of time will cut back on the temptation to eat out when you've had a long day.
Brew Your Own Coffee: Make a point of having your first cup at home in the morning or sticking to the office brew.
Go Green: Using public transit will help you save on high gas prices and parking.
Home Entertainment: Cut back on movie spending by attending "cheap nights," lower-cost matinees, or second-run movie theatres. Or rent a movie instead.
Clip Coupons: Get good deals on daily items like groceries and toiletries by clipping coupons. And don't forget to go online - many retailers and brand websites offer coupons that you can print out. Don't forget to ask about special rates for seniors.
Insurance Savings: Opt for higher deductibles on home and auto insurance policies to reduce premiums.
Save On The Necessities: Take personal items - such as shampoo, toothpaste, sunscreen, and bathing suits - with you, as they may be much more costly at your destination.
Where To Save:
A high-interest savings account is a good choice for your savings. You'll
earn a competitive rate of interest over a regular account, and the money will
be easily accessible to you when you need to pay for your vacation. And to stay
on track, why not nickname your high-interest savings account through online
banking? For example, naming it your "Florence account" or "Australia fund" will
help you stay motivated by focusing on what you want to achieve. You'll be
surprised at how fast it grows!
To give your savings an even greater boost, arrange for a
manageable amount of money, even if it's just $10 or $25, to
be transferred automatically into this account on a weekly
or monthly basis.
There is even a savings program that automatically helps
you save when you spend using your debit card. This program
rounds up your total purchase amount to the closest dollar
denomination of your choice. Speak with your financial
advisor on the best savings options that fit your lifestyle
and budget.
On The Home Front:
Before long, you'll have saved enough to be on your way. But in the excitement of planning your vacation, don't neglect your finances at home.
Automate your bill payments while you're away to avoid facing late payment charges when you return.
Find out whether your credit cards provide insurance coverage - such as travel medical insurance, trip cancellation and rental car collision - and what your limits are. You don't want to pay extra for coverage you already have.
Ask your bank what it charges for overseas ATM withdrawals to get a better sense if Traveller's Cheques are a better option for your vacation. And by all means don't count on your credit card as a source of cash while you're away, as interest is charged immediately on cash advances.
Your Financial Advisor can help you determine what other financial considerations you should take into account before you travel.
Regards,
Nino
Pasquariello.
Tricks Of The Trade:
FINTRAC - As Of June 23/08 - It’s Now The Law In Canada:
FINTRAC is an independent federal government agency with a mandate to detect, deter and prevent, money laundering, terrorist financing, and threats to the security of Canada. FINTRAC analyzes financial transaction reports and discloses financial intelligence to investigative agencies where it has reasonable grounds to suspect the information would be relevant to an investigation of money laundering, terrorist activity financing or threats to the security of Canada.
FINTRAC is part of Canada's Anti-Money Laundering and Anti-Terrorist Activity Financing Initiative. The initiative is led by the Department of Finance and includes the RCMP, CSIS, Public Safety Canada, Canada Revenue Agency, Canada Border Services Agency, the Communications Security Establishment and the Department of Justice.
Further
Information:
Financial Transactions and Reports Analysis Centre of Canada,
1-866-346-8722 (toll free).
What this means when you’re buying and selling real estate is a bit “of additional paperwork” – just more forms to sign. Acceptable documents in Ontario for Identification Verification include a Birth Certificate, valid Passport, valid Driver’s Licence, Record of Landing or Old Age Security Card. So, life will go on a usual – we will just need a couple extra minutes for signing and that means a few more sips of coffee!
Regards,
Rosemary
Okay, Okay - Here's The Joke …;
Another
Really Bad Joke
The Fine Art of Buying Gas In France
A thief in Paris managed to steal some incredibly valuable paintings from the Louvre: a Monet – a Degas – a Van Gogh. He was inspired by De Gaulle and Toulouse.
After careful planning, he got past security, stole the paintings, and made it safely to his van. However, he was captured only two blocks away when his vehicle ran out of gas.
When asked by the police how he could mastermind such a crime and then make such an obvious error, he replied, “Monsieur, that is the reason I stole the paintings”
“I had no Monet - to buy Degas - to make the Van Gogh”.
Now let’s see if you have De Gaulle to send this on to someone else. I sent it to you because I figured I had nothing Toulouse.
Mid-Month Market Update:
GTA Re-Sale Housing Market Continues Steady
Pace
June 18, 2008 - The Greater Toronto Area (GTA) resale housing market continued at a moderate but healthy pace throughout the first half of June, Toronto Real Estate Board President Maureen O’Neill announced today.
Prices continued their upward trend in the first half of this month. The GTA average price is currently $398,542, up 4% over the $384,576 average from the same timeframe a year ago and up 11% from the $358,648 recorded at mid-June 2006.
In the City of Toronto the current average price is $439,469, up 3% over the $424,888 average a year ago and up 14% over the $386,960 average in the first half of June 2006.
In the 905 Region the average price is $371,686 up 4% from the $357,359 average a year ago and up 10% from the $338,578 recorded at mid-June 2006.
In the City of Toronto 1733 sales took place to mid-June 2008. This represents a 15% decrease compared to the 2045 properties sold a year ago but a 2% increase over the 1690 transactions in the first half of June 2006. A different story emerges when you compare the first half of June 2007 before the Toronto Land Transfer Tax went into effect to the same period in June 2006, a period showing a 21 per cent increase in sales.
“With 4374 transactions in the first two weeks of this month, sales in the GTA declined 14% compared to the same timeframe a year ago when 5074 properties were sold,” said Ms. O’Neill. “However, compared to the first half of June 2006 when 4074 properties changed hands, this month’s activity is up 7%.
In the 905 Region, the scenario was similar. In the first two weeks of June, 2641 properties were sold. This represents a 13% decline compared to the 3029 homes sold in the first half of June 2007 but an 11% increase over the 2384 properties sold at mid-June 2006. When you compare the first half of June 2007 to the same period in June 2006, sales increased by 27%.
Certain communities including Riverdale, West Agincourt, Caledon and Richmond Hill South experienced strong activity in the first half of this month.
In Riverdale (E01) transactions increased 28% compared to the first half of June 2007 driven by strong condominium apartment sales.
Condominium apartment transactions also drove West Agincourt (E05) to a 24% increase in sales compared to the same timeframe a year ago.
In Caledon (W28) detached home transactions lead to a 9% increase in sales over the same period a year ago.
Richmond Hill South (N03) also experienced strong detached home sales, which resulted in a 5% increase from mid-June 2007.
“With employment and interest rates holding steady and a 17% increase in available listings compared to a year ago, it is an ideal time to take advantage of all that the market has to offer,” said Ms. O’Neill.
Ask An Expert?
These are just some of the professionals who can help you
with your home ownership concerns. If you subsequently
choose to establish a business relationship with any
person/company then you should be sure to define the
specific details of the relationship or business contract
before you proceed.
-
Ask An Interior Decorator?
-
Ask A Kitchenware Retailer?
-
Ask A Landscape Designer?
-
Ask An Employment Lawyer?
-
Ask A Banker/Mortgage Broker?
-
Ask A Firecode/Retrofit Specialist?
-
Ask A Garden Sculpture Specialist?
-
Ask A Basement Waterproofing Specialist?
Business Referrals
Client & Networking referrals are the foundation of a
successful real estate sales representative's career. Over many years in
this industry I have enjoyed the confidence and repeat
business of my clients. I appreciate your on-going support
and want you to know that I will always look after friends
and colleagues you refer to me with professionalism, care
and respect.
Rosemary Wright
Sales Representative
Sutton Group-Bayview Realty Inc., Brokerage
Independently Owned & Operated
(Bus): (416) 483-8000
(Fax): (416) 463-0159
WebSite:
www.rosemarywright.com
E-Mail:
mail@rosemarywright.com
Direct
Page: (416) 582-1216
"Professional Service With A Personal Touch"
This newsletter is never sent unsolicited. If you wish to
be removed, please reply to this
E-Mail with the words "Remove from Newsletter" in the
subject line or call me at
(416) 483-8000 to request removal.
The intent of the newsletters - "Real Estate Bits" &
"Real Estate Bits - 2" is to provide information to you
regarding real estate. Personal details such as your
name, contact information and address are never revealed
to anyone without your consent. In accordance with the
new
Privacy Act,
your consent must be given
(either implicitly or explicitly) to receive these
newsletters.If you do not want to receive my newsletters
- please notify me. My newsletters are not
intended to solicit Buyers or Sellers who are currently
under contract with any Broker.
The information and opinions contained, statistics and
articles are courtesy of TREB, CMHC or other individuals
or companies and are believed to be reliable, but their
accuracy is not guaranteed. Sutton Group-Bayview Realty
Inc., Brokerage and Rosemary Wright accept no
responsibility whatsoever for any loss arising from any
use or reliance on the accuracy and timeliness of the
information contained herein. Every endeavour is made to
ensure accuracy. These newsletters do not render
financial, legal, accounting, home inspection or
professional advice. They are for general educational
purposes only. They do not offer do-it-yourself advice.
We encourage you to always contact the appropriate
professionals or specialists to address your individual
needs.
E&OE |
