Give Yourself Credit: A Beginner’s Guide to Arranging a Mortgage

Over the years, I’ve worked with clients whose ease with numbers would make your head spin - from accountants to engineers. But, in my experience, such “mathletes” are far outnumbered by those of us who face financial calculations with apprehension.

Thank heaven for mortgage specialists. Whether you opt to go through a broker or your financial institution, a good specialist will guide you through the intricacies of choosing a mortgage with patience and know-how.


Remember that mortgage pre-approval is the way to go. This means visiting your specialist before shopping for a home, and obtaining a realistic budget to work from. Pre-approval also speeds up the purchasing process once you’ve found your perfect home.

In comparison with the early 80s, when mortgage rates surpassed 20%, today’s rates – which tend to hover below 4% – seem astonishingly low. But substantial savings can still be found by choosing certain mortgage features over others. Here are some of the most basic options you’ll encounter:

Term Length: A term is a set length of time, typically ranging from one to ten years, in which a certain mortgage rate applies. At the term’s end, you’ll renew your mortgage for another term. The shorter the term, the lower the interest rate; however, by choosing a longer term, you’re insuring yourself against the possibility of skyrocketing mortgage rates in the future.

Fixed rates, variable rates and capped rates: A fixed interest rate remains the same throughout the term, while a variable rate rises and falls along with prime rate. While the second option means accepting some unpredictability, it may yield greater savings than a fixed rate. A capped rate is a type of variable rate that cannot exceed a set upper limit. If interest rates are low but you’re facing a longer closing date, you may choose to be locked into a capped rate, which will apply once your mortgage payments begin.

Frequency of payments: Most lenders offer weekly, bi-weekly, semi-monthly or monthly payments. While, at first glance, the difference between bi-weekly payments (every other week) and semi-monthly (twice a month) may seem unimportant, it works out to two more payments per year. Ultimately, those extra installments could take a couple of years off the life of your mortgage.
Of course, there are many more mortgage features that your specialist can introduce to you. Trust me: by the end of the process, you’ll feel like a specialist yourself.

To receive a FREE copy of a new special report titled "Homebuyers: How to Save Thousands of Dollars When You Buy" email sales@bennettpros.com

Marnie Bennett is a broker and the marketing director for Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host of the weekly radio show the Real Estate Hour, a millionaire real estate investor and a wealth management coach. bennettpros.com

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Moving Tips For Moving with Children

If you have children, buying and moving to a new home in Ottawa it will undoubtedly become more complicated than moving as a couple or a single person

Moreover, moving can be a scary experience for children, especially if it means they will have to change schools or leave their friends behind. There are things you can do as a parent to make the entire process go smoothly and be less upsetting.

When to Tell Your Kids

The best time to let your children know about a possible move is as soon as possible. If you are still in the process of looking at Ottawa homes, you might want to bring the kids with you to view the houses. Letting kids see where their new bedrooms or play areas will be can lessen the anxiety that is often associated with a move. If the move means the children will go to a new school, you  might want to take them to see the school as soon as you can.

If you are moving to a new state or province and can't travel there with your children before the move, take the time to teach your child as much as you can about their new home. Look up the city or town online to learn about its history. Use the internet to find out about clubs and sports your child can participate in, in the new town.

Packing Up

Your children can help you pack up the old house. Set aside a time a week or so before the move to help your children pack their belongings. You can use this time to purge toys and objects your child no longer uses, but try to be respectful of his or her wishes. Moving is a stressful time for kids. Don't add to the stress by demanding that they get rid of all of their toys – as some may be memorable keep-sakes.

On Moving Day

How involved your kids are on moving day depends on their age. Older children and teenagers can help you load up the moving van and finish packing. Toddlers and very young children will probably just get in the way of the process. You might want to hire a babysitter to look after them as you pack up the van. A babysitter can be helpful after you've moved as well, to watch the kids while you unload the van.

After the Move

After you've moved to your new Ottawa home, try to get settled into your new home as quickly as you can. Unpack your kids' rooms first, so that they have a place to themselves. Get your children involved in your new community’s or school’s activities as soon as possible so that they can start making friends and building a new life.

Visit www.bennettpros.com for all your real estate needs.

Tips for Moving With Pets

Often a reason cited for buying a new home in Ottawa is being able to give a beloved pet more space to run and play. But before your pet can enjoy his new Ottawa home, you have to get him there safely. Moving with a pet, presents its own set of challenges, notes Marnie Bennett, a real estate professional, as you have to worry about the safety of your pet both during and after the move at a time when you are pre-occupied with, or distracted by, all of the big- and small-picture issues of simply changing locales

Here are a few pics of our furry friends lounging at our office at 190 Lisgar St. in Ottawa

Before Moving Day

Unfortunately, you can't get your pet to help you pack up and prepare for the move. What you can do is plan things so that he's not underfoot as you get ready to move. You have a few options to handle this extra care.  On some packing days, you can ask a friend or your partner to take the dog for a walk. You can also put your pet in another room and close the door so that he doesn't get in your way as you try to pack up

There are some important documents you should get from your pet's veterinarian before the move, if you're moving far enough away that you need to change vets. Ask the vet for your pet's vaccination records and other medical records and also ask him for the name of a veterinarian he recommends in your new area. You may want to get a mild sedative from your vet to keep your pet calm during the trip, especially if you have an older pet or a pet who is ill.

Stock up on food and medication for your pet before you move. You might not be able to get a refill on any pet prescriptions from your pet's new doctor right away. If your pet is on a special diet, you will want to have extra food on hand in case it's hard to find his brand in your new location.

Purchase new tags for your pets before you move. The tags should have your new address and contact number on them. If your pets have been microchipped, make sure you update your address with the company.

On Moving Day

Your pet's safety should be a primary concern on moving day. If you can, have a relative or friend take your pet for the day so that he isn't underfoot or does not run away. You can also set up a special room as the "pet room" for the day. Choose a room that has proper ventilation, such as a small bedroom – but definitely not a closet. Place your pet's food bowl, pillow and toys in the room and visit him from time to time while you unpack.

Keep the door closed so that the pets can't get out. You'll also want to put a sign on the door so that any other person helping to do the unpacking doesn't inadvertently open the door and let the animals out. If you'll be transporting your pets in carriers, put the carriers in the room before a few weeks before the move so that the pets get used to going into and out of the carriers.

After the Move

Marnie Bennett notes that you can't talk to your pets and explain the move the way you can talk to children. After you move to your new Ottawa home, the best way to get your pets used to the new place is to set out the things they are familiar with. Unpack your pet's food bowl and toys right away to help him acclimate and exercise him as you normally did in your old location so that he experiences no variation from his routine at his old address.

Visit www.bennettpros.com for all your real estate needs.

Ottawa Real Estate Agent Wins Prestigious North American Business Award

Ottawa Real Estate Agent Wins

Prestigious North American Business Award

TORONTO – [Aug 19/14] – Marnie Bennett, a Broker of Bennett Property Shop Realty, Ottawa, Ontario, was awarded the prestigious “Daniel Passante Entrepreneurship Award” in a ceremony at the Toronto Hilton on Saturday, August 16 by Craig Proctor Coaching International.

ABOUT THE WINNER

An admitted workaholic, Bennett was #1 for Keller Williams International in 2010 (besting more than 80,000 other Keller Williams’ sales reps worldwide), before starting her own boutique agency in 2012; and has consistently ranked in the top one per cent of salespeople in North America for the last several years. She has a bachelor’s degree in law and economics, and even back in 1981, in her first year of real estate, she was one of the top agents in Canada.

While Bennett’s drive took her far on her own, her real estate business more than doubled when she aligned herself with Craig Proctor Coaching. “I went to my very first Craig Proctor Super Conference in Los Angeles in May 2010,” said Bennett. “At that time, I was on target to be the #1 Agent for Keller Williams International - but if the truth be known, I was mainly using - but was far less than happy with - the “old school” real estate systems that just didn’t fill our brokerage’s unique needs. But I had done a lot of research into methods and systems that were being used by large and successful brokerages and discovered that the common denominator of the most successful agents in my market place was that they were all Craig Proctor students.”

Over the last four years, by gradually implementing and integrating Proctor’s Quantum Leap Real Estate Success System with some of her brokerage’s existing systems, and ultimately after joining Proctor’s elite Titanium Coaching group, Bennett rapidly grew her business doubling her sales after opening her own boutique brokerage in a beautiful heritage office building in downtown Ottawa. “We now have 40 people on our team; and in one of the toughest markets that I have ever experienced, we have grown our resale numbers by 58% over last year,” said Bennett.

“If Marnie doesn’t inspire you,” said Proctor, “you’re tough to impress. We selected Marnie as the recipient of the Daniel Passante Entrepreneurship Award from among the brightest and best real estate agents from across North America because she exemplified the same huge energy, intelligence, entrepreneurial spirit, and dogged perseverance of the superb agent after whom the award was named.”

“I was completely taken by surprise and am thrilled and honoured to receive such a prestigious award and for being recognised for all my hard work and dedication. For the last 33 years, my goal has always been to offer the highest quality professional real estate services and to build the best real estate brokerage which provides my clients with what we call “5-Star Service” and I appreciate receiving this award as it shows that my colleagues recognize how successful we have been in taking care of our clients’ needs,” said a grateful Marnie Bennett.

ABOUT THE AWARD

The Daniel Passante Entrepreneurship Award was created in May 2012 in memory of an exceptional business leader and an inspiring Craig Proctor coach, Daniel Passante, who tragically passed away on March 25, 2012. The award is presented annually to the most innovative, inspiring, and successful team leader. Past winners include Realtors Len Wong in 2012 and Rick Brash in 2013.

Craig Proctor Coaching is an International Real Estate Success Coaching organization that has shaped the lives of over 30,000 Real Estate Agents across the globe. Founder and CEO Craig Proctor designed the Quantum Leap Real Estate Success System that underpins his coaching programs for his own highly successful real estate business, only recently devoting 100% of his time to coaching other agents worldwide. While an active agent (not a broker), Proctor consistently sold over 500 homes a year for annual GCI of almost $4 Million. He was twice named the #1 agent in the world for RE/MAX®, and was one of the top RE/MAX® agents in the country for 15 years. As a Real Estate Trainer, Proctor has coached more agents to Millionaire status than any other trainer. For more information, visit www.ProctorRealEstateProgram.com 

ABOUT THE BENNETT PROPERTY SHOP REALTY, BROKERAGE

The Bennett Property Shop Realty is a one-of-a-kind international boutique brokerage in Ottawa, Canada whose business philosophy is based on exceptional personal service, leadership and industry-leading and innovative policies and practices. Bennett is an award-winning marketer and has become one of Canada’s most highly-regarded Real Estate marketing and sales consultants and strategists because her company provides a full scope of integrated services that are customized to produce the highest possible degree of success for each client. With a team of 25 elite sales representatives who routinely go above and beyond the call of duty, the Bennett Professionals have built a steadfast reputation for excellence in the nation’s capital where their clientele includes Ottawa’s buyers and sellers, countless investors (including Ottawans buying outside of Ottawa and foreign nationals investing in Ottawa properties), as well as local and international developers. Turning this business into a one-stop-real-estate-shop has proven to be no small feat for the Bennett team, but a challenge which Marnie Bennett and her team enthusiastically take on. With over 9,000 sales, and $3.1 billion in real estate sales, the Bennett Property Shop hands down is the number one choice among discriminating home sellers and buyers and real estate developers.

MORE ABOUT MARNIE BENNETT

Marnie Bennett is one of the capital’s most prominent businesswomen, entrepreneurs and media personalities. Marnie’s personal life experiences have given her the ability to address women with insight, empathy and compassion, along with her trademark frankness.

From the beginning of her real estate career, Marnie’s sales numbers were among the highest in Canada – which results confirmed that this was the right fit for her particular gifts.

Recognizing that there was an ignored by critically-important niche to fill in the Ottawa housing market, Marnie began her own boutique marketing and realty firm in 1994 – a company that rapidly became a “one-stop shop” for numerous local real estate developers, builders, property managers and investors. Her passion for encouraging women has found expression as she coaches her team members to develop and expand their talents, and as she mentors private clients to take control of their financial futures. But most rewardingly, she’s watched confidence levels steadily rise among clients who have taken part in her “Women on Wealth” (WOW) workshops, learning skills that help them to make the most of their hard-won earnings.

On the media front, unhappy with the “boys’ club” attitude of the local real estate radio show, Marnie began the first of two radio shows. In the first, Marnie offers real-world, practical and inspiring information and advice that is easily understood to a broad range (by both age and financial savvy) to listeners from different walks of life. In the second show, Marnie interviewed various local entrepreneurs to elicit their secrets for success and to inspire other would-be entrepreneurs “to get their ideas in motion”.

She’s also a frequent columnist in local newspapers and magazines, offering fresh, down-to-earth advice that often specifically addresses women home buyers at various stages of life.

In 2008, Marnie was named Ottawa’s Businesswoman of the Year.

In 2010 Marnie was named #1 Realtor Worldwide with Keller Williams Realty International distinguishing herself among 93,000 other sales representatives.

In February 2012, Marnie and her family opened a boutique real estate brokerage in downtown Ottawa - just steps away from Parliament Hill – The Bennett Property Shop.

The Bennett Property Shop is a unique real estate firm that provides their clients with “white glove 5-Star service” and meticulous attention to detail.

For further information, photographs or to set up an interview with Marnie Bennett, please contact:

Jo-Anne Suitor

613-670-0164

jo-anne@bennettpros.com
www.bennettpros.com
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Twitter: @BennettPros