Thought of the week

Only dead human don't have problem, so don't worry everyone is in the same boat

Canadian Housing Market is Resilient

Canadian home sales edge higher in November
According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity rose slightly in November 2011 from the previous month.

Highlights:

· Sales activity rose slightly (+0.5 per cent) from October to November on a seasonally adjusted basis.
· Year-to-date sales remained in line with the 10 year average, but pulled further ahead of last year's levels.
· The number of newly listed homes was down 3.4 per cent from October to November.
· The national housing market remains balanced, but is edging closer to seller's market territory.
· The national average price posted a 4.6 per cent year-over-year gain in November, the smallest increase since January.

Housing Sales up 11 % in comparison to November 2010

 Greater Toronto REALTORS® reported 7,092 residential transactions through the TorontoMLS® system in November – up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year.

"We have seen strong annual sales growth through the 2011 fall market. The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area," said Toronto Real Estate Board (TREB) President Richard Silver. "The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions."

The average price for November transactions was $480,421, representing an increase of almost 10 per cent in comparison to $437,494 in November 2010.

"Despite strong price growth this year, the housing market remains affordable in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The correct method of assessing affordability is to consider the share of the average household's income that is dedicated to mortgage principal and interest, property taxes and utilities. Currently, this share remains in line with generally accepted lending guidelines. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a more moderate pace." Summary of TorontoMLS® Sales and Average Price November 1 – 30

 See Report Video on You Tube 

 

			2011								2010
			Sales					Average Price			Sales		Average Price
City of Toronto ("416")			3,027					$524,805			2,742			$477,092
Rest of GTA ("905")			4,065					$447,371			3,642			$407,682
GTA			7,092					$480,421			6,384			$437,494
TorontoMLS® Sales & Average Price By Home Type November 1 - 30, 2011
		Sales							Average Price
		416			905		Total		416			905				Total
Detached	975			2,259		3,234				776,017		540,299			611,364
Yr./Yr. % Change	9%			12%		11%				12%		10%			10%
Semi-Detached	333			449		782				562,064		370,827			452,262
Yr./Yr. % Change	13%			13%		13%				13%		8%			11%
Townhouse	350			711		1,061				418,050		342,954			367,727
Yr./Yr. % Change	17%			4%		8%				2%		11%			8%
Condo Apartment	1,336			546		1,882				365,131		272,479			338,251
Yr./Yr. % Change	9%			18%		11%				8%		9%			8%

 

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Best regards,

 

Ritesh Joshi
Your Next Door Realtor

www.riteshtherealtor.com

647-281-3424

Return On Your Renovations...Are You Interested ?

My two neighbors are in process of renovating their homes and were thinking which should give them Big Bang for the Bucks they spend.

I did some research and collected some numbers. Usually all renovations adds value to your home, but some renos makes home more sell-able than others. 

 

If you have planned your move and planning to sell your home, you should at least consider three renovations.

1) Interior Colour  - Return on investment -- 75 % - 100 %

2) Bathroom Renovations - Return on investment -- 75 % - 100 %

3) Kitchen Renovations - Return on investment -- 75 % - 100 %

Other renovation do make your home more attractive but return on investment is lower.

- Basement Renovation 75 %  - 100 %

- Flooring upgrade  50 %  - 75 %

- Installation of a Fireplace - 50 %  - 75 %

- Window and Door upgrades - 50 % - 75 %

- Roof Shingles Replacement - 25 % - 75 %

Call me if you are planning your next move. I can help you with staging for FREE and help you sell you home in days or its FREE.  Click here for more info

Best regards,

 

Ritesh Joshi
Your Next Door Realtor

www.riteshtherealtor.com

647-281-3424

Current Interest Rate

Term	Posted Rate	Best Rate
6 month	5.05%	5.05%
1 year	4.50%	2.74%
2 year	4.05%	2.49%
3 year	4.55%	2.94%
4 year	5.14%	3.09%
5 year	5.49%	3.24%
7 year	6.59%	4.34%
10 year	6.99%	4.69%
Variable Rate	2.80%
Prime Rate	3.00%

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Best regards,

 

Ritesh Joshi
Your Next Door Realtor

www.riteshtherealtor.com

647-281-3424

Home Renovation Tax Credit (HRTC)

Home Renovation Tax Credit (HRTC)

What is the HRTC?
The HRTC is a non-refundable tax credit based on eligible expenditures incurred for work performed for home renovations. The HRTC can be claimed when filing your 2011 tax return.
The HRTC can be claimed for renovations and alterations of an enduring nature and that are integral to the eligible dwelling (such as your home or cottage) or the land that forms part of the eligible dwelling.


How is the HRTC calculated?
The 15% non-refundable tax credit can be claimed on eligible expenditures of more than $1,000 but not more than $10,000. The maximum tax credit that can be claimed to reduce your federal income tax is $1,350. However, if the total of your non-refundable tax credits is more than your federal income tax, you have no federal income tax to pay, and you will not receive a refund for the HRTC.


Example
William and his spouse Marie pay $5,000 to purchase an energy-efficient furnace for their home and $3,500 to build a deck at their cottage. They also decide to have the area around the deck landscaped for $2,500, bringing their total costs to $11,000 ($5,000 + $3,500 + $2,500). Marie claims expenses of $9,000 ($10,000 – $1,000), resulting in an HRTC of $1,350.
William and Marie may also be eligible for the ecoENERGY Retrofit – Homes grant.

 For more information about the ecoENERGY program, visit www.ecoaction.gc.ca.


Important things to remember
You do not have to submit your supporting documents with your income tax and benefit return; however, you must ensure this information is available should the Canada Revenue Agency request it.


To avoid problems with your HRTC claim, make sure you:
■ get your contracts in writing; and
■ keep your receipts.
Eligible expenses must be of an enduring nature and be integral to the eligible dwelling. The cost of routine repairs, maintenance, and expenditures not integral to the dwelling are not eligible.


Examples of eligible expenses
■ Renovating a kitchen, bathroom, or basement
■ New carpet or hardwood floors
■ Building an addition, garage, deck, garden/storage shed, or fence
■ Re-shingling a roof
■ A new furnace, woodstove, boiler, fireplace, water softener, or water heater
■ A new driveway or resurfacing a driveway
■ Painting the interior or exterior of a house
■ Window coverings directly attached to the window frame and whose removal would alter the nature of the dwelling
■ Laying new sod
■ Swimming pools (permanent – in ground and above ground)
■ Fixtures (e.g., lights, fans, etc.)
■ Associated costs such as permits, professional services, equipment rentals, and incidental expenses
Examples of ineligible expenses
■ Furniture, appliances, and audio and visual electronics
■ Purchasing of tools
■ Carpet cleaning
■ House cleaning
■ Maintenance contracts (e.g., furnace cleaning, snow
removal, lawn care, and pool cleaning)
■ Financing costs

Where can I get more information?
For more information, go to www.cra.gc.ca/hrtc or
www.hiringacontractor.com, or call us at 1-800-959-8281

Travel season has started ....What you should know before start your Travel

Fly through the airport — in 8 easy steps Share this article: "It's easy to get frustrated at the airport when you're waiting in a long security check lineup — even more so when your bottle of water is intercepted or you have impatient little ones with you. But it doesn't have to be so bad," says Mathieu Larocque, spokersperson for the Canadian Air Transport Security Authority (CATSA). "So much of getting through security faster is about packing smart and knowing what to expect." Follow Mr. Larocque's eight basic tips for speeding your way through airport security: 1. Only bring what you need onboard Fit everything in your checked luggage unless you need it to get on the plane and during your flight. You also want to have anything you need for when you immediately land. "More things are allowed in checked bags than carry-on," says Mr. Larocque. "Take the minimum onboard and chances are you'll get through security faster." Expert tip: Before you even pack, check your airline's website to find out the exact dimensions and weight restrictions for carry-on luggage. 2. Get the facts about liquids, aerosols, and gels "You are allowed to bring onboard only as many 100 ml containers as can fit into a one-litre plastic bag," says Mr. Larocque. "It's important to note that we're talking about the size of the container, not the amount of product found within it." That means you can't bring an almost empty 250 ml bottle of water onboard. How large is a one-litre bag? CATSA estimates they're about 15.24 cm by 22.86 cm (6 inches by 9 inches) or 20 cm by 17.5 cm (8 inches by 7 inches). Tip for parents: If you're travelling with kids under the age of two, you have some leeway. Generally, you can bring as much baby food and beverage as you need for the duration of your flight. 3. Leave suspicious-looking items behind "Obviously, firearms and weapons are prohibited onboard," says Mr. Larocque. "But things that may simply look like a weapon (a toy gun or a belt buckle in the shape of a grenade, for example) or sharp items can look suspicious to a security officer — especially through an X-ray machine. This can slow down the screening." Tip for parents: Check your child's backpack and jacket to see if there's anything tucked into a pocket that may be not allowed. 4. Go through early Gone are the days when there's nothing to do after security check but sit and wait. Today you'll find shopping, food, and in some cases, entertainment once you pass through security. 5. Check for special screening lines Major airports in Canada have dedicated screening lanes for passengers with special needs, including families, and they are staffed with specially trained officers. That's a real bonus when you want to bring a stroller or car seat onboard the plane. 6. Be prepared for security Have your boarding pass ready for the officer to check. Put your jacket and laptop in bins and leave loose change, jewellery, pens, cell phone, and shoes (if you are asked to) in a bin to be X-rayed. 7. Plan to remove your shoes if needed "If you're flying to any U.S. destination, everyone must remove their shoes and put them through X-ray," Mr. Larocque says. "If you're flying within Canada or internationally, then only shoes that contain metal — like in the toe or heel — must be X-rayed." Not sure? Take them off rather than set off the metal detector. Tip for parents: This rule applies to kids as well. Simple slip-ons or Velcro closures may be your best option. 8. Know about secondary screenings "If you're picked for a secondary screening, you'll have a choice between a full body scanner or a physical search," says Mr. Larocque. "Unlike some of the controversial machines being used in some U.S. airports, the full body scanners we use in Canada emit a radio wave and Health Canada has assured us they're completely harmless." Tip for parents: If your child is chosen for a secondary screening and is under the age of 12, you will be asked to give your consent and must be present during the screening. If your child is 12 to 15 years old, you, a guardian, family member, or a person escorting them may be present for a private physical search. Would you like more detailed info about what you can and can't bring onboard? Use the interactive CATSA Pack smart online tool. This article is courtesy of TD Melochemonex.

What is CMA or Market Evaluation ?

After reading it on my website someone asked me other day.. What is a FREE market evaluation and CMA  mean ?

CMA is real estate shorthand for "Comparative Market Analysis". A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.

The first thing an agent will need to do to provide you with a CMA is to inspect your property. Generally, this inspection won't be overly detailed (she or he is not going to crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the agent at this time.

The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.

The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.

CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it's used to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Best regards,

 

Ritesh Joshi
Your Next Door Realtor

www.riteshtherealtor.com

647-281-3424

TREB Housing Market Average Price

Your homebuying team

 

Buying a home can be a complicated process. You'll want to get help from a team of knowledgeable professionals who can provide reliable information and answers to your questions.
Your team will likely include a realtor, a lender or mortgage broker, a lawyer, an insurance broker and a home inspector. Take your time and do some research before choosing any of these professionals.
Realtors
If you are buying a resale home there's a very good chance that you will work with a realtor. Your realtor's job is to help you find the ideal home, write an Offer to Purchase and negotiate on your behalf to get you the best possible deal. Realtors can also provide important information about the community you are considering and help you arrange a home inspection.
When you are ready to select a realtor, don't be afraid to ask questions – especially about possible service charges. Normally the seller pays a commission to the realtor but some realtors charge buyers a fee for their services. To learn more about realtors including their ethical obligations, visit the Canadian Real Estate Association's website at www.crea.ca or contact your local real estate association.

Lenders and Mortgage Brokers
For most people, buying a home means taking out a mortgage. There are many different institutions that lend money for mortgages including banks, trust companies, credit unions, caisses populaires (in Quebec), pension funds, insurance companies and finance companies.
Mortgage brokers don't work for any specific lending institution. Their role is to shop around and find the lender with the terms and rates that are best for the buyer.
To find a lender or mortgage broker you can ask for a referral from your realtor, family members, friends or other professionals. You can also contact the Canadian Association of Accredited Mortgage Professionals (CAAMP) at www.caamp.org.
Lawyers
The lawyer on your homebuying team is there to protect your legal interests by making sure the home you are buying does not have any building or statutory liens (a claim against a property for money owing), charges or work or clean-up orders. Your lawyer will review all contracts before you sign them, especially the Offer (or Agreement) to Purchase.
Lawyer fees range widely and depend on the complexity of the transaction and the lawyer's expertise so be sure to shop around for rates. To find lawyers who specialize in real estate law, check with your local law association.
Insurance Brokers
An insurance broker can help you to shop around for your insurance needs.
Lenders require property insurance because your property is their security for your mortgage loan. Property insurance covers the replacement cost of your home, so the size of your premium depends on the value of your home.
Home inspectors
In order to avoid costly surprises, consider having the home you are thinking of buying inspected by an experienced home inspector. The home inspector's role is to inform you if something is not functioning properly, needs to be changed or repaired, is unsafe or maybe even identify where there were problems in the past. In most areas of Canada there are no licensing or certification requirements for home inspectors, so look for one who belongs to a provincial or industry association.

by Mark Salerno of CMHC

Breakdown of Home Energy Use

Canada introduces new 'super visa' for families - Yahoo! News

News excerpt from Yahoo News.

Canadian officials on Friday announced a new two-year, multi-entry "super visa" for parents and grandparents of immigrants settled in Canada.

The move came after wait times for sponsorship of "family class" applications had grown to an unwieldy seven years or longer.

"Without taking action, those times will continue to grow, and that is unacceptable," said Citizenship, Immigration and Multiculturalism Minister Jason Kenney in announcing the move.

"Action must be taken to cut the backlog, reduce the wait times, and ensure that the parents and grandparents program is sustainable over the long run," Kenney said.

The multiple-entry "Parent and Grandparent Super Visa" will be valid for up to 10 years, officials said, and allow applicants to remain in Canada for 24 months before needing seek visa renewal.

The new visas will begin on December 1 and the will be issued, "on average, within eight weeks of the application," officials said.

Mortgage Interest Rate Changes

Both variable and fixed mortgage rates have increased recently.

Variable Rates:

• the prime rate has stayed the same at 3.00% and is likely to remain as is for the next year.
• however, the "prime minus" has reduced from an average of minus 0.75% to minus 0.20% or less resulting in a variable rate increase, up from 2.25% to 2.80% or higher.

Fixed Rates:

• fixed rates have also increased a little.
• however, fixed rates are still at a historic low

Should your clients go with a variable rate or a fixed rate?

• the current difference in rate between variable and fixed rates is about 0.64% .
• previously the difference was about 1.25%
• with the fixed rate you know your rate for the next 5 years and fixed rates are not likely to go down much further.
• with the variable rate the prime could go up in the next year or so and although you can convert to fixed at anytime without penalty fixed rates will have gone up when you decide to convert or you wouldn't have decided to convert.
• so the answer is there is very little difference whether you take variable or fixed rates right now.  The variable rate will save you about $1,600 per year ($133.33 per month) on a $250,000 mortgage "if" the prime rate doesn't go up early in the 5 year term.

Best regards,

Ritesh JoshiYour Next Door Realtor

www.riteshtherealtor.com

647-281-3424

Market Watch October 2011

Make Your House Winter Ready

It's again Time To Clock Back to Standard Time, This Saturday Nov 5th Don't Forget to Change the time.

With the clock back make your house winter ready.

• Shut-off water valves - Locate water valves for backyard and garage (usually in the basement) and turn off, open outside valve and drain them. This will protect you pipe from bursting.
• Add weatherstripping to doors and windows. Don't let your heat escape through small cracks and gaps-seal drafty spaces using weatherstripping or caulk. Here are more helpful tips on sealing up air leaks in your home.
• Check your insulation. If you're in an older home, you may want to supplement the insulation that's already there, or add insulation to uninsulated walls. This will help keep heat in and moisture out.
• Clean your dryer vent. Inside and out. If you have a gas dryer, unplug it and shut off the gas supply at the appliance shut-off valve. Unhook the tube that leads to the vent and clean out as much lint as you can. If you have a wet/dry vac, tackle your exterior vent as well.
• Inspect your roof and chimney, and do any repairs that are needed. Look for cracked shingles, crumbling masonry and damaged or missing flashing. While you're looking at your chimney, take a look at your fireplace as well—make sure the damper opens and closes easily, and get the chimney cleaned if you haven't already this year.

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Appraisals Vs. Home Inspections

Appraisals Vs. Home Inspections

Appraisals Vs. Home Inspections – Do You Know the Difference? 

A home is one of life's most important purchases.  Before committing to a purchase it makes sense to learn as much as possible about any property you wish to acquire.  Understanding the important differences between an appraisal and a home inspection will help you to obtain detailed information about the home's value and condition.  

An Appraisal 
An appraisal allows the lending institution to determine if the property being purchased is suitable as security for a mortgage. For conventional mortgages, a lender will in most cases require that a professional third party assess the property to ascertain its current market value.  In the case of a "high-ratio" mortgage (with a down payment of less than 20 per cent), the mortgage insurer will go through its own internal appraisal process.  In particular, lenders and insurers are concerned that the property (in terms of its age, condition, and remaining economic life) constitutes a good match with the borrower and their ability to repay the mortgage.  An appraisal does not usually include a detailed property inspection.

A Home Inspection 
A home inspection is not used to determine property value, but will provide an assessment of the physical condition of a property.  A well-trained home inspector will perform a comprehensive visual inspection to determine the condition of the building and all of its major systems (for example the roof, structural, heating, plumbing and electrical systems).  While an appraisal is intended to provide the lender with sufficient information to decide on mortgage financing, a home inspection will hopefully reveal to a potential homebuyer whether the building and its systems are in sound working order.  If there are outstanding issues, a good inspector will provide the potential purchaser with a schedule outlining the estimated costs and when  these repairs will need to be completed.  

Ritesh Joshi
Your Next Door Realtor

www.riteshtherealtor.com

647-281-3424

Greater Toronto REALTORS® reported 3,477 transactions through the TorontoMLS® system during the first 14 days of October 2011.

Greater Toronto REALTORS® reported 3,477 transactions through the TorontoMLS® system during the first 14 days of October 2011. 

Click here for full report 

 “The first two weeks of October seem to be pointing towards more balanced market conditions as we move toward 2012. Growth in new listings outstripped growth in sales, meaning more choice for buyers,” said Toronto Real Estate Board President Richard Silver. “A growing number of home owners are reacting to the above average price growth reported this year and have decided to list their home for sale. They are confident they will receive timely offers in line with their asking prices.”

The average selling price during the first two weeks of October was $475,743 – up 7.5 per cent compared to the same period in 2010.

“The average resale home price is expected to grow at a slower pace in the months ahead because the market is becoming better supplied. There will be less competition between home buyers as we move through the fall and winter.” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “With a more balanced market in 2012, the average rate of annual price growth is expected to be in the mid single digits.” 

Canada’s housing ‘like the fountain of youth’ — for now --Says Financial Post

Read this article on Canadian Real Estate....Why Canadian Real Estate Market is Like Healthy Youth

Click link below to read whole article.

Canada's Housing "like the fountain of youth" says FINANCIAL POST

Get Your Whole Home Ready for Winter

The leaves are falling, there's a nip in the air—which means that winter's not far away. Before the snow flies, use our checklist to make sure your house is winter-ready.

• Shut-off water valves -  Locate water valves for backyard and garage (usually in the basement) and turn off, open outside valve and drain them. This will protect you pipe from bursting.
• Add weatherstripping to doors and windows. Don't let your heat escape through small cracks and gaps-seal drafty spaces using weatherstripping or caulk. Here are more helpful tips on sealing up air leaks in your home.
• Check your insulation. If you're in an older home, you may want to supplement the insulation that's already there, or add insulation to uninsulated walls. This will help keep heat in and moisture out.
• Clean your dryer vent. Inside and out. If you have a gas dryer, unplug it and shut off the gas supply at the appliance shut-off valve. Unhook the tube that leads to the vent and clean out as much lint as you can. If you have a wet/dry vac, tackle your exterior vent as well.
• Inspect your roof and chimney, and do any repairs that are needed. Look for cracked shingles, crumbling masonry and damaged or missing flashing. While you're looking at your chimney, take a look at your fireplace as well—make sure the damper opens and closes easily, and get the chimney cleaned if you haven't already this year.

Greater Toronto Housing Market Video for month of Sept -2011

Market Watch Report Aug 2011

WHY HIRE A REALTOR WHEN YOU BUY BIGGEST DREAM OF LIFE!!

Accelerated Bi-Weekly Mortgage Payments CHECK IT OUT and Please leave comment

Hello Everyone!!!
Last week I had discussion with my colleagues about the confusion about prevails among our client regarding Monthly, Semi-monthly and Bi-weekly mortgage payment.
So I was thinking there must be so many people out there who may have the same questions roaming in their minds…..here is the explanation……
So you've got you're mortgage approval, now the lender gives you the choice of several repayment options. You've heard about the standard monthly payments but what's semi-monthly or accelerated bi-weekly? Which one can save you the most amount in interest and which one can pay your mortgage off sooner?
Here's the down and dirty on the differences..

• Lets use this example:

Mortgage Amount	$100,000
Interest Rate	5
Amortization Period	25 years
Mortgage Payment	$581.60

• Monthly Mortgage Payments

Monthly payments are just that, payments made once per month or 12 payments per year. Based on our example, the total annual mortgage payments are $6,979.20 ($581.60 x 12). Under this repayment option, it will take 25 years to pay off the mortgage in our example.

• Semi-Monthly Mortgage Payments

Semi-monthly means payments are made on the first and the fifteenth of the month. You are making a total of 24 payments in the year. To calculate semi-monthly payments, you take the monthly payment and divide it by 2 ($581.60 / 2 = $290.80). At the end of the year semi-monthly payments still only add up to $6,979.20. ($290.80 x 24), the same as if you made monthly payments of $581.60.
Are there any savings making payments this way? Yes, but very little. The savings come from the fact that your paying down the principal quicker because your making payments twice per month as opposed to once per month.

• Accelerated Bi-Weekly Mortgage Payments

Accelerated bi-weekly mortgage payments are a bit different. The difference between semi-monthly payments and accelerated bi-weekly payments is that semi-monthly payments have 24 payments per year while accelerated bi-weekly payments have 26 payments per year. You are now making payments every two weeks (26 weeks per year) and not twice per month (24 payments per year).
To calculate your accelerated bi-weekly payment, take the monthly mortgage payment, divide it by 2 and multiply it by 26 (every 2 weeks). Using the example, you're total annual mortgage payment is $7,560.80 (($581.60 / 2 = $290.80) x 26)
Essentially you're making one more payment per year ($7,560.80 - $6,979.20 = $581.60). By making accelerated bi-weekly payments, you will be saving money on interest and reducing you're amortization period.

• What happens to my mortgage?

The following chart shows the impact on you're mortgage between monthly payments, semi-monthly payments and accelerated bi-weekly payments.

	Monthly Payment	Semi-monthly	Accelerated Bi-Weekly
Mortgage Amount	$100,000	$100,000	$100,000
Interest Rate	5.00%	5.00%	5.00%
Amortization Period	25 years	25 years	21.43 years
Mortgage Payment	$581.60	$290.80	$290.80
Interest Paid	$74,481.49	$74,301.97	62,044.18
Savings		$179.52	$12,437.31

The saving between monthly payments and semi-monthly payments over 25 years is only $179.52. The largest benefit comes from accelerated bi-weekly payments. In the example, you save $12,437.31 in interest costs and reduce your amortization period from 25 years to 21.43 years.
If you think this has answered your questions…please leave the feedback and question you have about real estate…I would be more than happy to answer you….
YOU CAN REACH ME AT ritesh.realtor@gmail.com…..