ASK THE HOME INSPECTOR
I have cracks in my basement floor. Is this a bad sign?
Generally, cracks in a concrete basement floor are common. Contractors spend a lot of time ensuring that the “site” is prepared properly so footings, walls and internal supports do not move. Unfortunately, far less time is spent preparing floor. Concrete is often poured over gravel on “disturbed” soil and may be only 8 - 10 cm. thick... sometimes less. One key purpose of the concrete floor is to keep the bottom of the basement walls from being pushed “in” by soil on the outside of the wall. Because concrete has good compressive strength, this works great. Unfortunately, concrete suffers from (1) low tensile strength; (2) it cannot bend; and (3) it will shrink. All these forces will cause concrete to crack. Besides noting the location and size of the crack, your inspector will try to determine its age, the cause of the crack and what the crack has been doing lately (getting larger?). Sometimes cracks give reason for concern, however; most are typical and should not have any effect on the structure of the home.
Kieth R. Sutfin
OK Valley Home Inspections Ltd.
www.okvalleyinspector.ca
www.snowbirdsecurity.ca
Res/Office: (250) 769-2132 Cell: (250) 317-3349
Toll Free: 1-888-575-7784
THREE THINGS TO THINK ABOUT!
- Make your offer to purchase only after selling your existing home, or make your offer conditional on the sale of your existing home. You don’t want to find yourself carrying two mortgages on properties that are both losing value.
- Be aware of the effect of foreclosures on your selling price. The Alberta market is experiencing a large increase in the number of foreclosures, and these tend to drive down the selling price of other homes nearby.
- If you are purchasing as an investment rather than as your principal residence, be aware that Alberta real estate prices are not expected to increase in the short term.
DID YOU KNOW... (3 of 5 series)
Between 1947 and 1952, Billy and Bobby Byrne robbed over 52 banks across Ontario. However history has all but forgotten them. In fact, they may be more famous for the outrageous stunts they pulled, rather then the crimes themselves. Here is # 3 of five facts about Canada`s most bizarre bank robbing Brothers: The brothers married the same woman. In 1948, Bobby divorced his long time gal Sally Lansburg. With whom he had three sons. A year later, Billy married Sally and they had three daughters! The bizarre arrangement never seemed to bother the Brothers?
The Canada Revenue Agency Warns Canadians of Mail Scam
The Canada Revenue Agency (CRA) is warning taxpayers to beware of a recent scam where some Canadians are receiving a letter fraudulently identified as coming from the CRA and asking for personal information. The letter is not from the CRA. A PDF version of the letter is available on the CRA Web site at www.cra.gc.ca/alert.
The letter claims that there is “insufficient information” for the individual’s tax return and that in order to receive any “claims,” they will have to update their records. The letter attaches a form specifically requesting the individual’s personal information in writing, via fax or email, including information on bank accounts and passports. This letter is not from the CRA and Canadians should not provide their personal information to the sender.
All taxpayers should be vigilant when divulging any confidential information to third parties. The CRA has well established practices to protect the confidentiality of taxpayers’ information. The CRA has notified the proper law enforcement authorities of this scam.
For information about this and other similar scams, or to report deceptive telemarketing activity, visit www.phonebusters.com, send an email to info@phonebusters.com, or call 1-888-495-8501.
Tammy Watt
Branch Administrator
CIBC Wood Gundy
Steve's Rates
| Mortgage Term | Our Rates | Standard Rates |
|---|---|---|
| Variable Rate | 3.30% | 4.00% |
| 6 Month Closed | 6.10% | 6.50% |
| 1 Year Closed | 3.25% | 5.00% |
| 2 Year Closed | 3.79% | 5.75% |
| 3 Year Closed | 3.90% | 5.75% |
| 4 Year Closed | 3.99% | 5.69% |
| 5 Year Closed | 4.00% | 5.79% |
| 7 Year Closed | 4.95% | 7.00% |
| 10 Year Closed | 5.95% | 7.35% |
| 15 Year Closed | 9.05% | 0.00% |
| 18 Year Closed | 9.05% | 0.00% |
| 25 Year Closed | 9.15% | 0.00% |
Rates are subject to change with very little notice and certain conditions may apply to individual mortgage applications, QAC, E&OE
For the best rates call 1-866-993-8787.
Resources
Business Supporting Business — Thank You:
Investments
www.thenewwestside.ca
Insurance
Canyon Insurance covers all your needs, ask for Harry Mason
hmason@canyoninsurance.ca
FCm Travel Solutions
wes.flanagan@fcmtravel.ca
Jocko Toic - Consultant
Investors Group Financial Services
3500 Carrington Road, Suite 102, Westbank BC, V4T 3C1
Ph. (250) 707-3265 Cell (250) 869-9636
Fax (250) 768-4563 Toll Free (866) 768-4546
Email jocko.toic@investorsgroup.com
Success starts with a Sound Plan
Private Home Sellers
www.privatehomesellers.ca
David Beeson
Realtor for the Kelowna Area
Royal Lepage Phone:1-800-747-6954
Email: davidbeeson@royallepage.com
Spring Creek CONSTRUCTION & MILLWORK
Established 2007 by Owner/Operator Florian Hoppen with 25 years in the woodworking industry.
Spring Creek offers quality custom craftsmanship and superior service on:
- Woodwork & Millwork
- Cabinetry Building & Installation
- Woodcraft Doors
- Renovations
- New Building Construction
References for Projects and Workmanship upon Request
Contact: Florian Hoppen
Ph: 403-931-2247 Cell: 403-510-8925
Email: springcreek@platinum.ca
Okanagan Home
www.okanagan-home.com
Friends Supporting Friends — Thank You:
Krystal Beisick
www.krystalbeisick.com
For Investments check out — www.renascencedevelopments.com
Ask for Lisa Thomas lisa@renascencedevelopments.com
A Quote to Note:
Our greatest glory is not in never falling, but in rising every time we fall.
- Confucius
Also a member of the Okanagan Mortgage Lenders Association
Contact
At Prolink Mortgage Inc., I have over 30 lending financial mortgage institutions in Canada with Steve Faux sourcing the best rates and the best products to suit your needs!
Direct Line — 1.866.993.8787
Email — steve@yourmortgages.ca
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