Christmas Time is Here!

With only 10 days until the BIG DAY this community is right in the middle of all kinds of celebrations. There are children's concerts, band concerts, office parties, nativity plays and many decorated homes and office buildings. There are chocolates and oranges and shortbread and egg nog to enjoy. Meals are being planned, and guests invited. Travel is often involved with family members coming and going throughout the season. We hope you take the time to enjoy this special time, be mindful of those who are not so fortunate, and remember why we are celebrating.Many readers will know that both Lorne & Drew are active in their own church congregations. Some of the activities involving a church are not necessarily spiritual. Roofs need to be replaced from time to time, and this photo was taken yesterday (Dec. 14th). When I say that it is not a spiritual activity, I must comment that it has evoked lots of prayer . . . The congregation is praying that the roof will be finished before we get a major snowfall!

Planning ahead really can save you money down the road. And with the high-cost holiday gift-buying and entertaining season quickly approaching, this may be the perfect time to refinance your mortgage and free up some money instead of relying on high-interest credit cards. You may find that taking equity out of your home will help bring joy back into your holiday season – and start the New Year off on a debt-free note, as you may also be able to use some of the equity in your home to pay off high-interest debt such as your credit card balances. This will enable you to put more money in your bank account each month. And since interest rates continue to hover near historic lows, switching to a lower rate may save you a lot of money – possibly thousands of dollars per year. There are penalties for paying your mortgage loan out prior to renewal, but these could be offset by the lower rates and extra money you could acquire through a refinance. I can sit down with you and work through all of the equations to ensure this is the right move for you. With access to more money, you’ll be better able to manage both your holiday spending and existing debt. Refinancing your mortgage and taking some existing equity out could also enable you to do many things you’ve been longing to accomplish – such as purchasing an investment property, taking that well-deserved vacation, renovating your home or even investing in your children’s education. Paying your mortgage down faster By refinancing, you may extend the time it will take to pay off your mortgage, but there are many ways to pay down your mortgage sooner to save you thousands of dollars in interest payments. Most mortgage products, for instance, include prepayment privileges that enable you to pay up to 20% of the principal (the true value of your mortgage minus the interest payments) per calendar year. This will also help reduce your amortization period (the length of your mortgage), which, in turn, saves you money. You can also increase the frequency of your mortgage payments by opting for accelerated bi-weekly payments. Not to be confused with semi-monthly mortgage payments (24 payments per year), accelerated bi-weekly mortgage payments (26 payments per year) will not only pay your mortgage off quicker, but it’s guaranteed to save you a significant amount of money over the term of your mortgage.

The above article is copied from Dominion Lending Centre's Home Financing Journal for November, 2011.

Why Trampolines are Dangerous (Kelowna, B.C.)

Who Says You Can't Get A Trampoline for Five Bucks? Do You Know A Buyer For This Home? This is a truly amazing home, located just outside of Castlegar on a 2.52 acre lot, with mountain views, a large deck, triple garage, hot tub, swimming pool and lots more. Please check it out here. Priced at $699,900 -- an excellent value for this package. Finally, here is a link to an article on the Christmas season I thought you might enjoy. It's an interview with Chris Patterson, the bass player for the Canadian group "The Arrogant Worms". There's no music here (you can find that on YouTube is you want to), but I appreciated his perspective. Thank you for reading, and for those who have contributed notes and photos and comments through the year. We always appreciate feedback, and the interaction with our readers. For a look at more real estate related articles, please check out our business blog at: http://nelsonrealestate.inthekoots.com/ Best Wishes from Lorne & Drew for a Merry Christmas and on into the New Year for all of 2012.