Frankie’s Fredericton

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$298,000
A Beautiful Sunrise on Miramichi Bay is what you’ll see every morning…this turn key home has so much to offer. Situated on the magnificent Miramichi River (only 12 minutes from the Centenial Bridge) this property has a private beach and boat launch. Continue reading »

As the economy takes a down turn, and more and more people lose their jobs, some folks in the heavily industrialized sectors of Canada are turning or returning to Atlantic Canada.
Fredericton, N.B. is a destination of choice for many people. Although we are all feeling the effects of the economy, Fredericton is able to weather the storm a little better than most cities. Continue reading »

Buying your first home can be a bit frightening but if you work with a professional real estate salesperson it will make the process much easier. I have been selling real estate in Fredericton, N.B. for the past 7 years and I love first time home buyers.
Remember there are 3 things that are very important when buying or selling a house: location, condition and price. Continue reading »

Here is some information that you may find useful if you are a recent newcomer to Canada or are thinking about coming to Canada.

In order to get a mortgage in Canada with a 5% down payment, you must have received your Permanent Resident Status, have been in Canada for at least one year and you must have an established record of credit and savings.

If you are a new arrival and do not have Permanent Resident Status, you will need 10% down payment to purchase a property and a source of regular income that can be proven.

If you have a down payment of 25% to 35%, the requirements are less strict and each individual will be assessed individually.

If you are considering a move to Canada, please obtain letters of reference from the bank you deal with in your country. This letter should be dated within 30 days and will greatly speed up the lending process in Canada.

1. Determine how much you can afford. Talk to a mortgage broker or your own banker, but get pre-approved for an amount you can afford.

2. Team up with a real estate agent. You are looking for someone who is a combination of personal adviser, consultant and negotiator. You want someone who will show you homes that match your criteria and guide you through the buying process. Call Frankie Gillespie at 476-2155 Continue reading »

All the predictions, if the economists and financial folks can be believed, are that 2009 will be a slow year in real estate. This information will translate into a “buy” signal for many, that is, they will interpret that as a “buyers market”. This does not mean it is a bad time to sell, it just means you have to be more aggressive, more in tune with the market you are in, and it is important to have the right “team” to effectively sell your house.

Secondly, because of the economic downturn globally, mortgage rates have dropped. Prime will be at 3.5% effective January 1st. 2009. Mortgage rates for a 5 year term are at less than 5%. Buyers will be getting locked in with a good rate early in 2009 and proceed to buy their dream home, will yours be on the market? Continue reading »

PROPERTY ACQUISITION
When purchasing a property, there are two ways to ensure that you are not exposed to unreasonable risk in completing your purchase, and that you have good and marketable title to your property.

1. A Lawyer’s Certificate of Title is the traditional means of protecting yourself and your lender on a property purchase. The lawyer searches the records at the Registry of Deeds, and provides you with an opinion of the title to the property. This opinion may be subject to certain limitations. The lawyer’s certificate ensures that you will have good and sufficient marketable title. You will also have to obtain a Surveyor’s Location Certificate to confirm that the dwelling is located completely within the boundaries of the lot. Your mortgage company will usually require these two certificates. A Tax and/or Zoning Certificate may also be required. Continue reading »

We are all aware of the economic situation in the U.S and we all know how inter-connected Canada is with that economy.
With the stock markets crashing all over the world and all of the news stories painting a very bleak picture for the financial sectors, consumer confidence has hit an all time low.
People are spending less, on all commodities. When fear takes over, people tend to hunker down and adopt a wait and see attitude.
The real estate market is no exception. There are more homes for sale than there are buyers, and people are bringing their prices down, and offering incentives, to get people to buy.
This is good news for buyers. Continue reading »

Your home is usually your largest investment and most people are unaware of how much their home is worth. It is important to know the dollar value of your home, not just when you go to sell, but also when you insure your home, or do estate planning. The value of your home is the corner stone of your net worth. Continue reading »