burlington real estate: Average Family Debt Rises To $96,000 in 2009
- 02/18/10 09:47 AM
A Canadian study on family finances says the average household debt has climbed to $96,000 in 2009. The number of mortgage payments that were at least 90 days late was up 50 per cent compared with 2008. There was also a 40 per cent increase in the number of credit card holders who were at least three months behind in their payments. The finance minister has announced changes to the home buying process in an attempt to bring this personal debt down. With low interest rates, people have been over extending themselves to get into the housing market. This has left … (4 comments)
burlington real estate: Thinking of buying or selling in 2010? - Maybe I can help!
- 02/11/10 04:48 AM
We are now full steam into 2010 and many people are beginning to think about buying or selling real estate. As you are making your plans, please consider the following points. 1. Interest rates are on the rise Home buying has continued its hot streak from 2009 into 2010. Interest rates remain low and continue to pull buyers into the market. The threat of rising interest rates in July will have people rushing to get into new homes before the rates start to move. 2. HST will be introduced this July While the tax will hit those who buy newly constructed … (0 comments)
burlington real estate: 2009: A Record Year for Real Estate
- 01/22/10 06:05 AM
Last year ended stronger than expected for Canadian real estate and shed some hope for the industry and the Canadian economy as a whole. Many in the real estate industry predicted that 2009 would continue to post a decline in both units sold and average prices. MLS sales for 2009, however, were reported at approximately 465,000 which represents a 7% increase over 2008 and the average housing price was listed at $315,000 representing a 4% increase. This may seem small, but it is not insignificant. Coming out of this global economic downturn, Canada has posted the highest average housing prices of … (0 comments)
burlington real estate: Canadian Real Estate Continues to Recover
- 01/22/10 06:01 AM
Exceptionally low interest rates, government incentives (rebates, tax breaks and RRSP contributions), the looming HST and a renewed consumer confidence puts Canada as the world leader when it comes to the recovery of the global real estate market. In a recent report on Global Real Estate Trends written by Adrienne Warren of Scotiabank, Canada is leading the way in the global real estate recovery with positive growth in housing starts, housing sales and average prices. Prices in Canada remain strong due to the increased demand for housing, coupled with low levels of housing inventory. First time buyers are out in full … (0 comments)
burlington real estate: Ontario Housing Market Will Stay Strong in 2010
- 01/14/10 02:46 AM
Canada and more specifically Ontario appears to have avoided any lasting impact from the collapse of the US housing market and the subprime mortgage market meltdown. What we have seen over the past 18 months was fear versus demand and fair market values relative to the true economic environment in Ontario. From the price stability we have seen, I would say we are on great footing going forward. The rational for Ontario home price appreciation in 2010 is as follows: Ontario home prices are fairly valued. Despite a healthy appreciation in home prices in Ontario between 2001-2009 we have avoided the … (0 comments)
burlington real estate: McGuinty rejects public hearings on HST; expects new tax to be election issue
- 11/18/09 08:48 AM
There's no need for the Ontario government to hold public hearings on its plan to harmonize the provincial sales tax with the GST next July, Premier Dalton McGuinty said Wednesday, adding that voters can pass judgment on the issue in the 2011 provincial election. Basically, McGuinty is telling the public he plans to ram this tax down your throat whether you like it or not and it doesn't matter what you think about it either because he's not interested in listening. He goes on to belittle the public by stating that the topic can be discussed at election time in 2011. … (0 comments)
burlington real estate: 10 best home upgrades for resale
- 10/15/09 10:34 AM
When people decide to sell their home, often they are uncertain if they should update their home. If so, what upgrades would bring the greatest return and most importantly, how much money should be spent on those upgrades. Upgrading before you sell can get out of hand, so set a budget and stick to it or you won’t be able to get that money back on the sale of the home. Consider giving your home any of these 10 upgrades when looking to sell. If you're preparing your home for sale, there are certain improvements that are definitely worth their cost … (7 comments)
burlington real estate: October Real Estate Sales Stats
- 10/15/09 07:40 AM
Real estate statistics for October remain strong and show we are blasting out of the recession. Toronto, Oakville, Milton, Burlington and Hamilton markets are all showing significant increases in both units sold and average prices. Also, houses are staying on the market for shorter periods of time and sellers are getting close to their asking prices. Looking at the rate of which houses are selling, it is clear the market has now balanced and whether you are a seller or a buyer, now is a great time to get into real estate. Toronto Real Estate Board - Units sold are … (0 comments)
burlington real estate: Home Inspection Series - Part 7: Home inspections gone wrong
- 10/07/09 03:25 AM
Home buyers hire home inspectors to help discover deficiencies in the home they are hoping to purchase. This inspection should reveal all major issues in the home so the buyer understands the condition of the home before they purchase it. Problems arise when buyers choose to go with the cheapest inspector they can find, don’t interview inspectors before they are hired or don’t investigate the experience of the inspector they are planning to use. As home inspectors come from various backgrounds and there isn’t any standardization in the industry, without a proper background check, you never can be sure that … (0 comments)
burlington real estate: Home Inspection Series - Part 6: Problems to ask your inspector about
- 10/05/09 01:42 AM
When you see the following problems listed as a concern in your inspection report, be sure to ask more questions to find out how serious the problem is and how much it will cost you to remedy. If the inspector writes “N/A”, “can’t be determined” or worse, left blank beside any of the following problems, be sure to bring a specialist in so you have a clear understanding of the extent of the issue. Electrical problems: Almost every home has an electrical problem, some a missing ground or reverse polarity to under sized breakers and panels. Homes built before 1955 may … (1 comments)
burlington real estate: Home Inspection Series - Part 5: Identify areas to increase the value of a home
- 10/04/09 09:15 AM
It is not the intended purpose of a home inspection, but the inspection might also give you some insight into potential opportunities for repairs and renovations that will not only make your home more pleasant to live in, but may also increase its value. With the federal government's new Home Renovation Tax Credit, you may have financial incentive to undertake some of these projects once you become a homeowner. Unveiled Jan. 27, 2009 in the federal budget, the HRTC will provide Canadians up to $1,350 in savings for money spent on home renovations through a temporary 15% income tax credit … (2 comments)
burlington real estate: September Real Estate Sales Stats
- 09/30/09 03:29 PM
Real estate statistics for September prove we continue heading in a positive direction. All numbers from Toronto to Hamilton are up in both units sold and average sale prices. Toronto Real Estate Board - Units sold are up 27% and average prices are up 6%. Hamilton/Burlington Board - Units sold are up 16% and average prices up 2.7% Oakville/Milton Board - Units sold are up 21% and average prices are up 3% Burlington Market - Units sold are up 13% and average prices are up 5% Oakville Market - Units sold are up 35% and average prices are up 14% … (2 comments)
burlington real estate: Let's Murder Your Mortgage
- 09/29/09 01:40 AM
Have you ever thought about paying off your mortgage quicker? Have you ever had some money you wanted to invest, but just didn’t know where to put your money? Bumping up your mortgage payment can save you a fortune over the years ahead. Consider our happy newlyweds Dick and Jane. They live in Burlington, Ontario in a three-bedroom, two-storey home. They owe $200,000 on their mortgage at 6.5 per cent. Right now, they are making monthly payments of $1,340 and are on track to pay off their house in 25 years. Based on their current schedule, they will wind up paying … (0 comments)
House hunters still waiting for prices to drop further before buying may have sat on the sidelines too long, according to a new report. A study released Thursday shows home values in some major markets across Canada have recovered to levels where they were before the recent market drop. Economists agree and say the power has shifted to a seller's market in recent months, after the buyer's were in control for more than a year. Low interest rates, pent-up demand, and improved affordability as a result of record low interest rates are behind the recovery. This has resulted … (1 comments)
burlington real estate: www.century21.ca now Canada's leading real estate website
- 09/28/09 03:21 PM
With over 95% of people beginning their real estate search online, shouldn’t the brokerage you choose to sell your home give you maximum internet exposure? Numbers were recently released at the CENTURY 21 Canada conference in Vancouver that revealed www.century21.ca is now the leading real estate brand web site in Canada, oustripping both the REMAX and Royal Lepage brand web sites, based on number of unique visitors. The CENTURY 21 Canada web site is now second only to the Canadian Real Estate Association's www.realtor.ca site. CENTURY 21 Canada CEO Don Lawby praised the members of the CENTURY 21 Canada system for … (1 comments)
burlington real estate: Mortgage Rates Fall Again!
- 09/12/09 01:09 AM
Mortgage rates have eased slightly for both the fixed rates & the variable rate mortgages. The 5 year fixed rate has finally come back down below 4% to 3.99%. The variable has also moved down to prime (2.25%) plus .15% on a 3 year term & prime plus .20% on a 5 year term. The variable seems to be the way to go, as the economists are now predicting that the Bank of Canada rate will not move until 2011. Even though, the recession is over, they are saying that the recovery will be slow and gradual which will not stimulate inflation. … (0 comments)
burlington real estate: August Real Estate Sales Stats
- 08/22/09 01:00 PM
Real estate statistics for August prove we are still heading in a positive direction. All numbers from Toronto to Hamilton are up in both units sold and average sale prices. For a complete and detailed report on real estate stats in your neighbourhood, please send me a brief message letting me know the neighbourhood in which you live and I will be sure to get you a report sent out right away! Percentage increases reflect the increases from August 2009 compared to August 2008. Toronto Real Estate Board - Units sold are up 28% and average prices are up 6%. Hamilton/Burlington … (1 comments)
burlington real estate: Home Inspection Series - Part 4: Finding the Right Guy For The Job
- 08/22/09 10:30 AM
Since anyone with a clipboard and some business cards can call themselves a home inspector, it is important to find one who is most qualified to accurately assess the various elements of a home. It is important to do your research so you can ensure the inspector you choose is the most qualified to do the best job. First-time homebuyers should go to any chapter of the Canadian Association of Home & Property Inspectors when looking for a reputable inspector. It is there that you can check on the inspectors to ensure they have some form of training. Be careful … (2 comments)
burlington real estate: Home Inspection Series - Part 3: Accompany the Inspector
- 08/16/09 02:24 AM
It is essential for all buyers to accompany the home inspector throughout the house. "When the client attends the home inspection, our inspector will physically show the client both the areas of concern and the benefits of the home construction. The client has a much better understanding of the quality of the home and a far greater and deeper understanding of what they're about to get into", according to George Pappas, president of Pappas Home Inspections Inc. As you walk through with the inspector, you will see first-hand the condition of each key component of the house and property so … (3 comments)
burlington real estate: Home Inspection Series - Part 2: Educating the Buyers
- 08/11/09 05:33 AM
Home buyers need to know what problems exist in the home before they purchase it, they will need to be given information on how much money will be required to make the necessary reparations, as well as how much money they will need to invest in their home within the first five years or so. A good home inspector will be able to identify all faults and flaws and be able to set out a timeline for when the repairs need to be completed. A knowledgeable inspector will also be able to tell the buyer approximately how much money they can … (2 comments)
A Canadian study on family finances says the average household debt has climbed to $96,000 in 2009.
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