How the market will fix MLS rules
The Commissioner of Competition recently made an application to the Competition Tribunal claiming that the Canadian Real Estate Association (CREA) uses control of the Multiple Listing Service (MLS) to impose exclusionary restrictions on the use of MLS.
The commissioner claims CREA rules on MLS lessen or prevent competition and deny consumers the benefits of competition in the Canadian residential real estate services market. CREA maintains it has adopted the MLS rule changes proposed by the commissioner. However, the commissioner remains unsatisfied with CREA's changes. It has sought redress from the tribunal.
The commissioner's challenge hardly matters. Powerful external change drivers are already at work altering the way real estate agents conduct business. These external change drivers are a more disruptive force for change than the heavy hand of government.
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Consumer Credit Experts Call On Homebuyers To Exercise Caution
TORONTO - Potential homebuyers spurred into action by fears of an imminent interest rate hike may be better off to wait and avoid bidding wars that can prove even more costly, according to consumer credit experts.
Laurie Campbell, executive director of Credit Counselling Canada, says Canadians already feeling societal pressure to be homeowners are more likely to engage in bidding wars and overspend when they hear that their ability to fulfil that "North American dream" could soon erode.
"We're not only enticed by agents and those who market mortgages and the whole concept but... society as a whole," she said.
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THANK YOU FOR YOUR BUSINESS
I would like to take this moment and thank the Real Estate Professionals for their business support: Christopher Blake, Shirlee Ross and Wayne Ross all from the www.kelownacollectiverealty.com.
I would like to thank the following clients for their business: Glen and Dianna Brown... your business and the referrals you provide are greatly appreciated.
MY MOUNTAIN
I learned a lot about myself this past Saturday. I bush packed 4.8 kms into an Aid station for an 80 km cross country run, I volunteered for it. A few Realtors I work with... one [Shirlee Ross] is one of the organizers for "Scorched Sole Run" that was held at Little White. I, along with another Realtor [Christopher Blake] packed gear of over 150 lbs through cold water, mud, rocks, trees and bugs. I tell you, I have never physically and mentally pushed myself so hard. The station was a mid point for the runners and seeing them come through was amazing. These people were at 5 and 7 hours by the time they got to our Aid Station #4. Pure demand and such a new level of what you can ask of yourself was witnessed. When we hiked out and got to my truck it was 6:30 pm - we started at 7 am.
The race was over and nearly everyone was gone. I did not get a medal and real acknowledgement from anyone. But I can tell you that every racer was so pleased to see us in the middle of no where. Set up a camp, served hot food, cut oranges and other supplies of nutrition. I just keep remembering how they smiled and said "thanks". Those "thank you's" were the most honest from the heart as a thank you could be. Wow is all I got at this time and thank you to Shirlee and Christopher for the experience.
I will go great lengths to not only support your clients but to get involved with your out of office activities as well.
Weekly Market Commentary
Global recovery concerns weigh on markets
Despite further positive economic news, concern over the pace and sustainability of global economic recovery helped push global and North American markets lower for the week ending July 2, 2010.
Downward revision of growth estimates for China and negative job reports in the U.S. were taken as signs that the global economic recovery may be slowing down. The Conference Board moved to correct a previous error by revising growth estimates downward for China, calling into question the magnitude of the slowdown in that country. In the U.S., employment declined last month - for the first time this year - because the government ended the temporary jobs created for the U.S. census and private sector job creation fell short of estimates.
In Canada, the economy remained unchanged after 7 months of growth. The gross domestic product remained unchanged in April - a slight disappointment considering GDP had been forecast to grow 0.2% for the month. Retail trade and the factory sector both declined. Despite the April slowdown, Canada’s economy expanded at a 6.1% annualized rate in the first quarter of this year.
On the positive side, the European Central Bank said it will lend 131.9 billion euros ($161.5 billion) for three months, less than economists forecast and easing concern the region’s lenders will struggle for funding after a 12-month ECB lending program expires. As well, the Institute for Supply Management-Chicago Inc. said its gauge of U.S. business activity expanded for a ninth month and the U.S. private sector created more than 600,000 jobs in the first six months of 2010. Learn More
This article of intrest was presented By Jocko Toic at the Investors Group. If you would like more one on one information, please feel free to contact him at:
Jocko Toic - CFP FMA CDFA
Investors Group Financial Services
3500 Carrington Road, Suite 102, Westbank BC, V4T 3C1
Ph. 250-869-9636
Email jocko.toic@investorsgroup.com
Success starts with a Sound Plan
Steve's Rates
| Mortgage Term | Our Rates | Standard Rates |
|---|---|---|
| Variable Rate | 1.90% | 2.50% |
| 6 Month Closed | 4.60% | 6.65% |
| 1 Year Closed | 2.65% | 4.05% |
| 2 Year Closed | 3.30% | 4.37% |
| 3 Year Closed | 3.85% | 4.90% |
| 4 Year Closed | 4.29% | 5.73% |
| 5 Year Closed | 4.09% | 6.25% |
| 7 Year Closed | 4.96% | 7.00% |
| 10 Year Closed | 5.30% | 7.35% |
| 15 Year Closed | 8.99% | 0.00% |
| 18 Year Closed | 8.99% | 0.00% |
| 25 Year Closed | 9.05% | 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
Where Can You Find Me Now
I have been selected and recommended to the following Profesional Links: www.advisorslounge.ca, www.homesandlandbc.com, www.okanagannrg.ca.
Business Supporting Business — Thank You:
Investments
www.thenewwestside.ca
Doc's Golf and Ferrier Golf Academy in Penticton BC
Tel: 250-826-3627
Rockworld - Natural and Manufactured Stone , Fireplaces & Stoves, Sales & Installations
Brent Copeland
PH: 250-769-7250
Jocko Toic - CFP FMA CDFA
Investors Group Financial Services
3500 Carrington Road, Suite 102, Westbank BC, V4T 3C1
Ph. 250-869-9636
Email jocko.toic@investorsgroup.com
Success starts with a Sound Plan
Private Home Sellers
www.privatehomesellers.ca
ROOMS BY ROSELYN
Painting and Design
Roselyn Anderson
PH: 250-469-0899
EMAIL: rosely_anderson@hotmail.com
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
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:
"The greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement."
- Charles Schwab
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 — 250.768.0535
Direct Fax — 250.768.0510
Email — steve@yourmortgages.ca
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