The number of listings for 2008...14,301 compared to 13,546 for 2007: up 6%.
The number of Sales for 2008...6,039 compared to 6,746 in 2007-down 10%.
The Total Sales Dollar Volume of $1,276,951,495 down 9% from 2007.
The number of expired Listings was 4,833 compared to 4,472for 2007-up 8%.
Average Sale Price YTD for Niagara Region: $211,379 vs. $$208,487in 2007--up 1.39%.
(Source MLS Statistics ...
Posted by Eugene Pilato
on December 11, 2008
NAR survey reveals interesting Buyer behaviour and expectations in today's real estate market
Who are today are buyers and Sellers? This question and more are answered in this recently released "Profile of Home Buyers and Sellers" by The National Association of Realtors.
This article focuses on aspects of home buying and buyer behaviour and expectations that should be of interest to home ...
Posted by Eugene Pilato
on December 11, 2008
You put your house up for sale and the listing expired without a sale. What went wrong? The majority of houses sell during the initial listing time, usually a period of three months or more. But - as you've found out - some don't sell.
What should you do now? If your listing has expired and now you really want results, we can help. Don't get spooked by the death of the ...
Posted by Eugene Pilato
on November 11, 2008
The one question we seem to be hearing over and over again is, "How's the Market?"
It's a great question, given that market conditions play an important role in property prices, competition and average selling times.
The market can typically fluctuate within three types of market conditions:
1. A Seller's Market,
2. A Buyer's Market, and
3. A Normal or Balanced Market
One Way to Determine ...
Posted by Eugene Pilato
on November 11, 2008
As of October 15, 2008, the government no longer allows insured mortgages with nothing down
The government has tightened up lending rules with the elimination of 0 Down Payment and a 40 year amortization on home purchases. Now, as it used to be, a CMHC Insured Mortgage requires a minimum down payment of 5%--a back to the future policy change.
Yet 0 Down purchases are still possible with the ...
Posted by Eugene Pilato
on November 11, 2008
1. The amount of mortgage and closing costs:If the owner purchased with little or nothing down or refinanced during a peak market, a market shift can create an upside down situation. The market price won't be enough to cover the mortgage and closing costs. Selling to cover these costs amounts to wishful thinking.
2. The money spent on upgrades: A seller ...
Posted by Eugene Pilato
on October 14, 2008
City
Jan. 1 to Sept. 30
Avge List
Avge Sale
Sale to List Price %
Sale Price Change
Avge Days on Market
No. of Sales
Fort Erie
2008
$186,647
$178,541
96%
5.18%
92 days
449
2007
$177,490
$169,751
96%
95 days
466
Niag-on-the Lake
2008
$427,392
$403,299
94%
...
Posted by Eugene Pilato
on October 14, 2008
MLS Sales Stats from January 2008 to June 27th, 2008 for Urban, Detached Homes, All Styles
Averages by City
City
Average List Price
Average Sale Price
%Sale/List Price
Days on Market
No. of Sales
Niag-on-the-Lake
$418,355
$400,483
96%
91 Days
83
Niagara Falls
$206,818
$199,978
97%
62 Days
453
Fort ...
Posted by Eugene Pilato
on July 1, 2008
The number of listings for 2008...6543 compared to 6462 for 2007: up 1%.
The number of Sales for 2008...2727compared to 3041 for 2007-down 10%.
The Total Sales Dollar Volume of $573,538,287 down 8% from 2007.
The number of expired Listings was 1686 compared to 1686 for 2007-down 0%.
Average Sale for Niagara Region: $210,603 vs. $202,727 in 2007--up 3.88%.
(Source MLS Statistics Report, Niagara ...
Posted by Eugene Pilato
on June 25, 2008
When you apply for insurance, companies will look at both the home to be insured and the person applying.
1. Insurance companies consider a home's age and condition, including the electrical system, plumbing, heating, oil tanks and structural components. They will also want to know if the home is owner occupied, rented or left vacant.
2. Insurance companies also look at the individual applying ...
Posted by Eugene Pilato
on June 11, 2008