The Canadian Real Estate Industry: Wish List for 2011

2010 was a pretty good year for the Canadian Real Estate market. Although there may still be some improvements needed in terms of the process of buying and selling homes, overall Canada is still one of the most preferred destination of immigrants. I found an interesting article outlining some of one writer’s (a Real Estate lawyer) wishes for improvements that could be made to the buying and selling process to make it less stressful for all involved. A few of his wishes are:

1. Accessibility of information – It could be helpful if insurance companies provided a 20 year history of any claims made on any home.

2. Home Appraisals – It could be helpful if banks conducted home appraisals within 5 days of receiving a home loan application, once an agreement has been signed.

3. Insurance policies – It could be helpful if buyers and sellers were required to have a 5-year insurance policy for structural defects, basement moisture issues, leaks in the roof and mold - perhaps also a 1-year policy to include electrical, plumbing, heating and air-conditioning systems in the home.

To read how these wishes could make the home buying and selling process less stressful and other improvements that could be made, click here. I think he has some good ideas!

Until next time,
Jamie

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