Tag Archive for: mortgage options

Walk the talk

All the best trainers and coaches know that success leaves clues. If you are not getting the results that you want then look to those who are succeeding. While there is no guarantee that doing exactly what they do will make you successful, I am fairly certain that it will however dramatically improve your results compared to what you are already getting.

As we are leading up to the Masters golf tournament this week, I recently read an article about Tiger Woods. There was an event a few years ago that featured Phil Mickelson & Tom Brady vs Tiger Woods & Payton Manning. Tiger being the hyper competitive person that he is really wanted to win the event. Payton on the other hand was prepared to approach it the same way that he has always approached golf which was to show up to the course 20 minutes early, hit a few balls then start. Tiger had him show up early, do his full warm up and prep work and approach it like the pro that he is and they ended up winning.

So if you are feeling a little bit off for some reason today, then just decide to walk, talk and move like someone who has it all together. Be confident that it will all work out and sooner than later you will be pleasantly surprised on how well things have gone for you today.

Today I am thankful for the brighter mornings, the bad weather that did not amount to much yesterday and the feeling of a fresh shave early in the morning.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Positive feedback

Why is the default feedback mechanism for people to be negative. We don’t learn to improve by receiving constant negative feedback day in and day out. Psycologists and animal trainers both agree that the way to implement a change is through positive feedback. Yet if we receive feedback from 10 people and 9 are overwhelming positive but one was negative why do we only focus on the negative one?

The same goes for the news that we read, stories of war, devastation or financial collapse get more attention that the positive human interest stories. Look at social media, when there is a there is a post about an important topic, controversial or not there is always tons of negative feedback. Why is it that people find it so easy to tear someone apart from their keyboard yet they would never say the same thing to someone’s face?

Try for just one day that if you have nothing good to say then say nothing at all. Find every reason to give someone positive reinforcement, even if it’s something small like holding the door open for you. These little ripples of positive energy is exactly what the world needs right now. Whether Mahatma Gandhi said it or not, “be the change you want to see in the world” is a great quote to live by.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Preparation

One of my favourite Ben Franklin quotes is ” by failing to prepare you are preparing to fail”. The overall theme of life is to prepare for the unknown and the unknowable. This could also be one of the reasons I love crossfit so much as you never know what the “Workout of the Day” was till you showed up for class. So you train for everything from strength, to metabolic conditioning ( cardio for you regular folks) and mobility and everything in-between.

So as you look outside today and see a sunny blue sky and think what a wonderful day, I encourage you to also look ahead and prepare for the upcoming storm for tomorrow and be ready. The same thing applies to life, it could be a wonderful day today but would you be ready if the shit hit the fan tomorrow? How are you planning for the unknown, do you have a supply of food, medicine and cash to keep you over if you lose power for a few days or if an unexpected bill arrives?

In regards to your mortgage, are you just making your minimum prescribed interest & principal payments while on a variable rate? Or are you paying more to prepare yourself as rates rise. Those of us who chose a variable rate were given a generational gift of extremely low rates. However remember that we had to qualify at a much higher rate to get approved. So it’s not too late to contact your lender and increase your payments so you are prepared as rates change over the next few months. Variable rates are still at an advantage over the much higher fixed rates so adjust your payment rather than switching to fixed.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Cold Turkey

Going cold turkey generally refers to stoping a bad habit quickly and suddenly. It is usually in reference to quitting smoking or drinking. Tony Robbins famously says that it is in our moments of decision that our destiny is shaped. Or as Yoda says ” Do or do not, there is no try”.

With some habits there is no shade of grey, you either do it or you don’t. So it is really up to us to decide if that habit serves us or not. If it doesn’t then it may be time to drop it and replace it with a better one. I mean that because bad habits must be replaced by something if the change is going to stick for the long term.

We live in a vacuum so if you stop watching 3 hours of tv every night, you will need to find something else to fill that same amount of time. It’s best to pick something new that will serve you instead. My dad smoked for years and whenever he tried to quit he would always pick up drinking pop or eating candy bars. Thus these new and equally destructive habits didn’t help him and he would fall back into smoking. So find something positive that will change you for the better.

I recently gave up surfing social media, yes cold turkey. I had not planed it in advance I just did it when I realized that 5 mins of scrolling would lead to 45 minutes of productivity lost and nothing learned. So I channeled that into reading more, and am now on my 10th book of the year. Find something destructive that you could switch out for something constructive.

Today I am thankful for the chocolate challah bread that my wife brought home this morning, lessons learned from reading a biography of one of the greatest minds to have ever lived and for that Etta James song stuck in my head.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Hire an expert

Generalist are fine when the problems or issues are minor, but when they are important or vital it is time to consult an expert. I was having issues with my feet this winter and asked my GP about it when I saw her. While the level of care is normally great for minor issues, if you have a specific problem then it’s time to see the expert. A quick visit to a podiatrist quickly fixed my issues.

When people are a jack of all trades they tend to be a master of none. We can’t all be polymaths like Leonardo Da Vinci who excelled in engineering, science, medicine and art. The same also applies to your need to finance your next home or your dream home. There are those who work for the big 5 banks who do mortgages, lines of credit, investments, checking & savings accounts and insurance. While I am quite sure that they are good at a few of those fields they can’t possibly be an expert in all of them.

Your home for most people is your single most important investment over your lifetime. You should not put this in the hands of someone who is only average at doing it. You should be dealing with an expert, someone who specializes in that field.

Today I am thankful for the fact that I sought the advice of an expert, having a busy schedule and having options for challenging files.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

First Things First

There is a reason why the flight attendants recommend that in the event of an emergency that you put your mask on first. This is because in order to help others you must first learn to help yourself. While you may think that this is contrary to how it should go, it actually makes sense.

You can’t help your loved ones financially if you yourself are in need of financial assistance. It is almost impossible to calm down a situation if you yourself are not under control. How the heck can you help those around you with their health if yours is in a state of disrepair. Do as I say an not as I do is not an answer.

Learn to take care of yourself first so then you can help those around you. Have at least 30 minutes of “me” time every day just so you can properly meet the stresses of the day. Pay yourself first from every pay cheque so you will have some for the rainy days ahead. Lastly but mostly importantly take good care of your health as we are here for a short time not a long time so do your best to make every second count.

Today I am thankful for the beautiful sunrise I saw in Halifax while walking my dog at 6am today, flexible lending policies from lenders so files can get closed and past clients with more projects.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

NS budget 2022

Just as a point of reference I am not going to delve into all the items on the 2022 budget here in NS, but only how it effects the real estate market. It doesn’t matter the political strip of the government just the details on how it effects your ability to purchase property here in NS.

The new 2022 budget was announced yesterday and in it includes a revenue generating plan to tax foreign buyers of real estate. By foreign buyers this covers anyone who will not be a resident of Nova Scotia after they purchase the property. It turns out that there are approximately 27,000 non resident property owners here in Nova Scotia. This covers those who have cottages, condo’s or investment properties here but live elsewhere.

The first new tax will increase the deed transfer tax for foreign buyers from 1.5% of the purchase price to 5%. The change is scheduled to take effect April 1st/2022 and will apply if you don’t move here within 6 months of purchasing the property. The second will be an increase in the property tax to $2 per $100 applied to properties of 3 units or less bought by foreign buyers. They expect the changes will result in over 80M of new revenue for the province.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Buckle Up

Buckle up as it may be a bumpy ride. Since Russia decided to invade Ukraine, I am not saying because of it but this did start around the same time, that bond yields have been steadily rising thus the fixed mortgage rates have also been increasing.

In the past month the 5 year discounted fixed rate has increased by 90 basis points from 2.89% to 3.79%. There are many in the mortgage industry who say that they see this increasing further to over 4% and only then possibly settling down. There is also talk of the Bank of Canada increasing the overnight lending rate by 50 basis point on the next meeting on April 13th. Doing so will then increase the prime rate from 2.70% to 3.20%.

While the costs of almost everything has been increasing lately from the homes we buy, the wood we use the construct them and the gas we use to get ourselves around. Just be thankful that we live in a safe and free country. Do your best to help those around you who are in need. So until this all settles down, just buckle up and do your best to get through it.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Upset win

Well the underdogs came through big time yesterday. CODA the little picture that could came out on top when it really mattered. Also the Canadian men’s soccer ( football for everyone else) team won to qualify for the world cup later this year. Both monumental wins as it was the first win in the best picture category for a streaming service and the first time in 36 years ( and only the 2nd time at all) that the Canadian men’s team qualified for the world cup.

We all love it when the underdog overcomes overwhelming odds to win. Here are a few examples to jog your memory. When Leicester City over came 5000-1 odds to win the Premier league in 2016. When unseeded Boris Becker wins Wimbledon in 1985. Lastly when unknown John Daly won the US PGA Championship in 1991.

When underdogs win they can teach us a few things:

  1. Teamwork is important and that no individual person can do it all alone.
  2. Having the motivation and passion to be the best that you can be.
  3. It all starts with the belief that you can over come the odds and do it.
  4. Behind every so called overnight success is a strong work ethic and persistance.
  5. Lastly the ability to pick yourself up after your have encountered a setback and push through to the end.

Sure it’s exciting watching great teams set records but after a while you want to see someone new win, this is why it is always fun and exciting to root for the little underdog. Your story is not done so there is still plenty of time left for you to come out on top.

Underdog

I have to confess that I don’t watch a lot of TV. When I do it tends to be Hockey a documentary or a fun movie. Last night I stumbled upon CODA on Apple TV +. Mostly because I had heard that it was in the mix for an Oscar and that it was billed as an easy feel good movie that was fun to watch. This is vs Power of the dog which my wife watched and told me that it was supremely acted but very dark. While I get enough of the dark watching the news lately I didn’t really feel like investing 2 hours of my life watching it, thus leaving me angry or depressed.

This has nothing to do with Apple vs Netflix or traditional movie studio vs streaming, in my mind it is all about the perceived front runner Power of the dog with 193 wins leading up to the Oscars today vs CODA with 32. To me this is the David vs Goliath battle. It is just as similar as rooting for Canada to snag a berth in the world cup of Soccer this evening as well.

It is fun to go for the plucky underdog compared to the established player. This may be also why I get a feeling of excitement when I have been able to secure a client away from one of the big banks. A file or two does not mean much to the big five but they do matter to me. Think of it as supporting a local business vs a large chain store. All the profits stay in the community as compared to disappearing on their corporate balance sheet.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here