If you’re shopping for a mortgage in Spruce Grove, Stony Plain, Parkland County, the Edmonton region, or elsewhere, you have no doubt been faced with choosing between a floating, or variable, mortgage rate, or a rate that is fixed for a period of time.  Five-year fixed-rate mortgages are especially popular because they provide mortgage holders the security of knowing exactly how much they will pay over the term of the mortgage.  People choose fixed-rate mortgages despite the fact that variable-rate mortgages have been shown over time to save significant amounts of money.

But a recent article on the CBC News website entitled “5 reasons why a fixed-rate mortgage could be your best bet” could make the variable-rate mortgage crowd rethink their choices.

The article points out several factors that suddenly make fixed-rate mortgages attractive for reasons other than no surprises about the amount of your payments.  Posted mortgage rates are being discounted more than they used to be when a consumer locks in for 5 years.  Secondly, the gap between the higher rate for fixed-rate mortgages and the discounted variable rate is narrowing.  That is, the variable rate is not being discounted as much, and fixed rates have dropped.  What’s more, mortgage brokers may be able to negotiate a fixed rate that is considerably lower than the fixed rate offered by the big banks, a rate that is in fact only slightly higher than the variable rate.  Combine these bargains with a variety of fixed terms, some as short as two years, and all of a sudden the fixed-rate mortgage is a contender!

The article concludes by stating that rates are and will likely remain at historic lows so consumers can’t really go wrong no matter what kind of mortgage they choose.  Please read the full article for all the details.

I work with several mortgage brokers and would be happy to help you get pre-approved for a mortgage prior to showing you just the right property!  Call me at 780-910-9669, email me at barry@barryt.ca, or contact me here.

An article with this compelling title in the December 2, 2011 edition of the Stony Plain Reporter and Spruce Grove Examiner newspapers stopped me cold the other day.  We hear so much about the evils and perils of credit card use that many of us feel a little shamefaced to be caught pulling one out of our wallets.  Could it be that credit card use is actually advantageous?  Yes, says this article, as long as you pay off your balance in full every month, and you use one of the many cards that give you rewards, such as cash back or reward points redeemable for merchandise or travel.  And you don’t have to pay a fee for these cards either, as many of them allow you to collect the goodies without paying anything beyond the cost of the items you’ve charged.  Pretty sweet deal, especially at this time of year when our wallets get pulled out a lot!  Check out the full article here:  Save by Spending on a Credit Card from TorontoSun.com. 

While I can’t take a credit card in payment for your house purchase, I can help you save money when buying real estate!  Call me at 780-910-9669, email me at barry@barryt.ca, or contact me here.

Most of us don’t give much thought to the furnaces in our Spruce Grove, Stony Plain or Parkland County homes, as long as they keep us warm through the long Alberta winters.  An article in the October 29, 2011 edition of the Edmonton Journal, entitled “A new furnace can save money, and lives”, might just give you reasons to replace the old workhorse in your basement.

The article points out that, while the initial cost of the newer high-efficiency furnaces is a little steep [expect to pay around $5000 for the purchase and installation of a new, high quality furnace], you’ll save plenty of money over time.  A quote from the article:

“Natural gas prices have more than tripled in the past 10 years and many analysts are forecasting further price increases. Fortunately, the efficiency ratings of new furnaces have also been increasing. Most furnaces installed in the 1970s, ’80s and early ’90s, were only 60-to 70-per-cent efficient, and very old furnaces can be less than 50-per-cent efficient. A continuously burning pilot light can decrease these efficiencies by another five per cent. New furnaces are 90-to 95-per-cent efficient. They do not have pilot lights and can reduce your heating costs by up to 40 per cent.”

But it’s not just money you’ll be saving.  Older furnaces are not very good at filtering dust and allergens from the air in your home.  What’s more, older furnaces can emit dangerous levels of carbon monoxide within your home.

My assistant recently replaced the furnace in her 30-year-old Spruce Grove home and had this to say about the experience:  “We knew it was time.  We’d been reading and hearing a lot about how much better the new furnaces were.  Our old one was still pumping out the heat, with no trouble, really, but we knew it couldn’t go on forever.  What surprised us was how much better the air circulated through the house with the new furnace – far fewer cold spots.  We used to have to wrap up in blankets for TV watching in our basement family room, or turn on the gas fireplace, but no more!  The basement is as cozy as the rest of the house.  But what really sold us on the new furnace was something we weren’t expecting at all.  Our son always gets stuffed up and sneezy when he comes to visit because he’s allergic to cats, but the new furnace has taken all of that away.  Now, that’s impressive, and definitely made us happy about our purchase!”

It’s not too late to replace your old furnace before the really nasty winter weather hits.  Learn more about the benefits of the new high-efficiency furnaces by checking out “A new furnace can save money, and lives”.

Comments or questions about this article?  Call me at 780-910-9669, email me at barry@barryt.ca or contact me here.

Do you have too much stuff?  In our consumer-oriented society, whether we live in the city of Spruce Grove, a smaller community like Stony Plain, or on an acreage or country estate in the County of Parkland, it’s easy to accumulate “stuff”.  We might not even notice just how much stuff we’ve accumulated until it’s time to sell our homes.  But what if we could train ourselves to be more mindful of everything we bring into our homes so that moving to a new house is not such a chore?

An article in the Grove Examiner, published August 12, 2011, suggests some questions to ask ourselves before we commit to buying anything.  Paying attention to what we buy will save us money, save the environment, and maybe even do away with the need to move to a bigger house!  Thanks to Craig and Layla Baird, “The Green Couple”, for allowing their article to be posted here in its entirety.

Things to consider prior to your next consumer purchase

Craig and Layla Baird, The Green Couple

Every time you go out to buy something, what you buy has an impact on the environment.

That purchase has an impact by the waste it produces when it is manufactured, and the waste that is produced when you use it and when you are done with it.  In addition, the environmental impact of the production, transportation and consumption of the product has an effect on our planet.

This is why it is important to ask yourself the “Purchase Questions”.  These questions are:

1.     Does the cost of the item warrant the benefit we may receive from it?

This means that if the benefit is just an immediate gratification (such as a new pair of shoes that we really don’t need), then it is not worth the long-term cost.

2.     How much will this product be used after its initial ‘neatness’ wears off?

Buying one of those dancing electric animals is a perfect example of this.  It may seem neat now, but it will end up in the closet soon enough and likely long before you recoup the expense in enjoyment.

3.     Can it be recycled or given away later?

If it can, it makes buying it easier because someone else can get use out of it after we no longer use it.

4.     Where could this money be better spent?

If it could go to bills, mortgage, charity or anything else instead of the product, maybe it should be directed that way. 

5.     Why are we buying this product?

If the only reason is because we just saw it, then it is not a good buy.  Impulse buys are not something we want to do.  As well, if we buy it because we saw it on television, then perhaps again it is not a good buy.

Asking yourself those questions can not only save you money, but they can help you save the environment as well.

Need help finding homes for extra stuff?  See my blog article “Getting Rid of Stuff”. 

I’m happy to help with all your real estate needs.  Call me at 780-910-9669, email me at barry@barryt.ca, or contact me here.