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real estate news: Best June on Record! - 07/06/09 08:26 AM
In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700."The record result in June is testament to the fundamentally sound housing market in the GTA," said TREB President Tom Lebour. "An increasing number of households have been confident in purchasing a home in the region's affordable and diverse resale housing market."The average price for June transactions was $403,972 - up by two per cent compared to the same month last year."The re-emergence of seller's market conditions has exerted upward pressure on home … (3 comments)
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real estate news: Real Estate - The New Market Reality - 06/24/09 01:14 PM
As stability returns to residential real estate markets across the country, buyers and sellers are breathing a sigh of relief. The carnage south of the border has failed to materialize in Canada and all indicators - economic and otherwise -- point to a housing market on the upswing.Buyers who moved in the midst of uncertainty, ignoring warnings from doom and gloom forecasters, economists and naysayers, snapped up some of the best real estate deals this market has seen in years. By contrast, those who panicked and chose to sit it out on the sidelines are now facing rising interest rates and-in … (0 comments)
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real estate news: Interest Rate Alert - 06/01/09 07:11 PM
The trend setting 10 year bond which is used as benchmark for long term fixed interest rates has been rising in the last few weeks.
It has moved to a tipping point which will cause fixed term interest rates to rise. This may come as soon as today.
We may be seeing 5 year fixed rates of 4.00% sooner than later, still a great rate but why not save a little money?
Two things to consider ;
1 - If you haven't purchased yet and are sitting on the fence, get pre-approved to secure a rate
2 - This maybe the best … (0 comments)
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real estate news: No Line-ups For Me! (Great Article By Ken McLachlan) - 12/25/08 07:22 AM
I just read a great article from my Broker/Owner of RE/MAX Hallmark Realty, that sums up our current market perfectly.
"BUY when most are selling and SELL when most are buying. Simple words to live our financial lives by. In spite of being familiar with these words, many people get caught up in the frenzy of a group with their actions. Years ago I recall my first experience with group dynamics when buying a commodity. In this memory, it was GOLD. In the early 80's I remember seeing people lining up on Bloor Street in downtown Toronto to purchase GOLD. As … (1 comments)
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real estate news: The Current Market, and Why It Is So Good - 12/15/08 12:22 PM
I see great opportunity in today's market for buyers and sellers (looking to trade-up). I think that the negativity presented by the media is clouding the judgment of buyers, investors, and sellers moving-up to better properties.
It is true that sellers were getting a greater return in 2007, but at the same time, were paying more on the buyer's side.
Due to super low mortgage rates (lowest in recent history), buyers and sellers (looking to trade-up to a better property) are experiencing the best market in over 10 years.
Investors and buyers dream of the current market conditions, so why all of the … (1 comments)
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real estate news: Great Article!!! - 12/05/08 11:52 AM
This is an article from Globe and Mail website by Madelaine Drohan. This is a great read and very positive!!!
Madelaine Drohan has covered business and politics in Canada, Europe and Africa in the last 30 years. Twelve of those years were spent at The Globe and Mail, first as a business reporter, then European correspondent and finally economics columnist. She is currently the Ottawa correspondent for The Economist and also writes for the Economist Intelligence Unit.
Crisis? What crisis?
MADELAINE DROHAN
Globe and Mail Update
December 4, 2008 at 12:32 PM EST
OTTAWA - Canada may be in a … (1 comments)
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real estate news: Why Canada will Not suffer a US Real Estate Meltdown - 10/13/08 07:35 AM
Attached is an excellent report put out by one of the most respected Ecumenist's in Canada , Benjamin Tal.
It is an easy read and is NOT written in economic babble.
In short , Tal covers 3 main topic's that could "Trigger" a US type meltdown.
1 Market Balance & Location - currently we are in a balanced market but will be in a buyers market by next year. BUT these are national figures and are being driven more by Western Canada than the GTA
2 Rates in relation to Affordability - comparing current affordability to 1990, rates … (0 comments)
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real estate news: Toronto Resale Housing Stable in July - 08/11/08 10:35 AM
With 7,806 transactions recorded last month, the resale housing market continued at a moderate pace in July.
In the City of Toronto the average price of $395,342, 10 per cent from the July 2006 figure of $360,409.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
The Annex experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
While homeowners continue to see healthy returns, it is taking slightly longer to achieve a … (0 comments)
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real estate news: Canadian Government Tightens Mortgage Rules - 08/08/08 06:25 AM
Federal Finance Minister Jim Flaherty assured reporters that there is no bubble in the Canadian housing sector. The government says it is taking a responsible and measured approach to ensure Canada's housing market remains strong and to reduce the risk of a U.S. style housing bubble developing in Canada.
The government will fix the maximum amortization period for new government-backed mortgages at 35 years, and will require a minimum down payment of five per cent on new mortgages. It will also require a consistent minimum credit score requirement, and introduce new loan documentation standards for those applying for a mortgage.
The … (0 comments)
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real estate news: Toronto Condo Market More Balanced As Summer Arrives - 07/07/08 04:42 AM
With summer here, the Toronto condo resale market is slowly shifting towards balance after several years of favouring sellers. There will be a 22 per cent increase in inventory, over last summer. Buyers seem to have more selection, be able to take more time to make decisions, and have a little more room for negotiation. This time last year, buyers had to make quick decisions and often had to pay over asking price.
This seems to be frustrating for sellers, that their units are staying on the market a little longer, and not commanding the bidding wars that were seen so frequently in 2007.
… (0 comments)
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real estate news: Toronto's Condo Market Holds Steady - 06/29/08 06:47 AM
Even as there are signs greater Toronto's real estate market is losing a little of its lustre, the condo market appears to be holding steady.Everybody was worrying if last year's success was the boom before the bust. But recent statistics show this years numbers are consistent with last years sales.
Condos have towered over low-rise real estate, both in pricing per square foot and number of units sold. Many of them are in prime locations, near subways. And you can buy one for under $300,000 - there are some still advertising for under $250,000. You can't buy anything close to that in … (0 comments)
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real estate news: 1 King West Developer Files For Bankruptcy Protection - 06/26/08 10:48 AM
Toronto condominium developer Harry Stinson has filed for bankruptcy protection in a high-profile fight with his business partner, theatre producer David Mirvish. The battle pits two of the city's most enigmatic personalities against each over the historic 1 King West condominium and hotel development, while threatening the move of one of Canada's oldest and most prestigious Bay St. clubs. Stinson, a veteran developer and one of the pioneers of the condo-hotel boom in the city, has filed under the Companies' Creditors Arrangement Act at the Superior Court of Justice for two of his companies that are involved in that project, in … (0 comments)
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real estate news: Luxury Downtown Toronto Condos - 06/24/08 01:08 PM
Toronto is rapidly becoming a hub of development with new Condos coming on to the Market every quarter. The first quarter of 2008 saw 3,433 new units sold, remarkable in the present economic times and even more so when you consider other Condo Markets in Chicago and San Diego are not selling nearly as well.
Downtown these luxury Condo-dwellers enjoy the Roger Centre, the Air Canada Centre and hundreds of restaurants, bars and shopping, just minutes away. One can definitely leave the car in the garage.
The new hip neighbourhoods of King St West and Queen St West are both undergoing a … (0 comments)
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real estate news: Toronto's Hot King Street West - 06/24/08 01:06 PM
Toronto's King West Condos are still very much in demand. With so many choices of Condos, Lofts and Townhouses, new buyers can quickly find what works for them.
Close to downtown Toronto, you can see several of the downtown Bank Towers from King Street, its just a short street car ride to work or a quick and short taxi ride.
Recently new loft condos and loft conversions are helping to make King West a popular place to live.
Liberty Village is now completing both Condos and Townhouses and with a close location to both the Lakeshore and King street even more … (0 comments)
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Casey Ragan
Toronto,
ON
More about me…
RE/MAX Hallmark Realty Ltd.
Address: 723 Mount Pleasant Road, Toronto, ON , M4S 2N4
Office Phone: (416) 486-5588
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