Page 32 - Sports Energy News, Cornwall, Issue No 90

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32 Issue #90 July 2020 Issue #90 July 2020 www.sportsenergynews.com.com

Neighbourly Advice From Our Local Professionals

Max Ming support in place, can help your overall A proper financial strategy achieves two

Financial Advisor health as well as your financial strategy. purposes: it bridges the gap between where
The psychology of stress can affect your you are now and where you want to be

Invest in a Less Stressful Summer approach to finances and how we prepare financially; that is, it allows you to ACT
am sure everyone can relate to the effect for milestones such as retirement. rather than RE-ACT your way to success.

I COVID-19 has had on our lives this year As you may have noticed, the financial Imagine how you will feel when you have
and we hope everyone has managed to stay markets have decided enough is enough a written plan that addresses all your key
healthy and sane during these trying times. and have rebounded nicely. Will there be concerns and ensures that all your resources
are working in harmony towards your life
The pandemic and its impact have certainly more volatility going forward? Without a goals. At Ming & Associates, we take
given people lots of reasons to be stressed doubt! It is the nature of the beast and it pride in creating such a strategy with you,
these days. Learning how to do deal with demonstrates the importance of investing positioning you for success. Give us a call
that stress, and having the professional with a plan with discipline. to give yourself some peace of mind!

2. If the home is over-assessed, then you purchase a home and taxes increase,
By Michael VanderMeer
Real Estate Agent the buyer will be paying more taxes than payments will go up over the next 3 or
he needs to be. They can appeal the 4 years in smaller increments, and not in
How a Home’s Assessment Can Affect assessment based on what they paid and one lump sum.
a Buyer what comparable properties are assessed Even if your home is properly assessed
Property taxes are based on a home’s at. initially, chances are its value will be
assessment and these assessments are 3. If the home is assessed right around increased in the next reassessment period,
not always accurate: some are high, and the purchase price, then taxes should which is every four years. There was a
some are low. remain the same with only slight increases reassessment scheduled for 2020 which
How does this affect a buyer? until the next assessment period. has been postponed due to the current
1. If a buyer purchases a home that is It should be noted that when a home is pandemic shutdown. This means that

under-assessed, they could find themselves paying extensively reassessed, any increase is added to the taxes being paid on properties this year
higher taxes the next time the home is reassessed. assessment over a 4-year period. So, if will remain the same for 2021.

lenders would not accept e-signatures loans – they also help borrowers pay
By Brian Johnston and demanded wet signatures. The off and own their homes as quickly
Mortgage Specialist
pandemic has changed this requirement. and responsibly as possible. While the
How COVID-19 Has Changed Home Now, even solicitors can video chat with pandemic didn’t create the need for better
Buying and Mortgage Lending clients to witness signatures. The current customer service, it certainly has made
xtraordinary times call for crisis has “brought forward” some of the mortgage executives prioritize it, and the
conversations our firm was planning to housing sector will emerge stronger and

Eextraordinary measures and business
leaders in all parts of the Canadian have about how to transform our process more customer focused as a result. While
economy are taking bold steps to respond because as consumers are opting to we certainly encourage our customers to
to the coronavirus crisis. Those of us in research and buy their homes online, they call, it’s clear that many borrowers —
the mortgage industry are implementing are doing the same with their mortgage especially millennials — prefer to interact
process. with us online. The world has changed,
reforms that will be long-lasting in terms of how lenders operate and the new norm that’s come with the

and how consumers will obtain financing. 2. Delivering consumer relief change is here to stay.
Here are two ways in which the crisis may permanently affect with speed: Keeping customers in their
AND
TO
DUE
the housing sector: homes especially in weak economies FOLLOWING COVID 19, GUIDE-
FEDERAL
1. Increased digitization: The COVID-19 pandemic has must be priority No. 1 for financial LINES TO PROTECT US ALL, OUR

resulted in mortgage lenders revisiting and, in many cases, institutions. We all learned from the Great OFFICE DOORS ARE LOCKED
adopting measures to digitize the mortgage process. Firms Financial Crisis of 2008-09 that losing AND ALL APPOINTMENTS WILL
like ours favour giving consumers the option to work with our your job should not mean losing your BE CARRIED OUT VIA EMAIL
mortgage agents in person or over the phone as well as online, house, although this was magnified in the OR PHONE. DOCUMENTS

but currently, until the crisis is over, our firm is in lockdown and USA more so than in Canada. Lenders CAN BE DROPPED OFF IN OUR
only dealing with clients online and over the phone. Previously, aren’t just in the business of providing SECURE MAILBOX.
thinking of selling your home?
Thinking of Selling Your Home?

John A. (Sandy) Sandy Cameron Rob Dawson Diane Granger
E Cameron Salesperson
K6j 1a1 Broker Salesperson
Broker of Record 613-363-9339 613-571-8600 613-330-4997
Since 1959 613-933-3283

savingS are substantial & simple
SAVINGS ARE SUBSTANTIAL
21 Water Street West, Cornwall • 613-933-3283 • SOLDSMART.CA
& SIMPLE

versus paying a 5% real estate commission.
seller savings compared to paying a hypothetical 5% commission including HST.
COMMISSION RATES ARE NEGOTIABLE BY LAW. NOT INTENTED TO SOLICIT PROPERTIES ALREADY LISTED FOR SALE.