Bank of Canada dropped the prime lending rate 0.25% and the banks followed. Further assurances were given that the rates are expected to remain low into 2010.
Prices have become more affordable and we are seeing an increase in home sales above what is typical of the spring market. This means that 'serious' buyers are moving fast to scoop the better homes as soon as they hit the market, ...
Posted by Robert Atkinson
on April 23, 2009
The market is being reported as a 'balanced' market where there is a good ratio between the number of buyers and sellers. Prices are coming down and homes are taking longer to sell but, they are selling and a well priced home will sell quickly. On average, homes in N11 are selling in about 45 days and while prices are declining there are definitely NOT sliding (tanking, plummeting, nose-diving ...
Posted by Robert Atkinson
on January 15, 2009
Seems every where we turn there is news from the US of failed banks and economic uncertainty. Many people are 'wanting' to move to a home that is better suited to them but that if they wait until the spring they will be able to get a better price for their home. Now, I'm not a psychic or able to see the future but I do have good common sense and the market indicators are pretty clear.... ...
Posted by Robert Atkinson
on October 3, 2008
As of October 15th, 2008 the government of Canada will no longer be guaranteeing 40 year mortgages in an effort to strengthen and protect the Canadian housing market. Some of the rule changes are:
Fixing the maximum amortization period for new government-backed mortgages to 35 years;
Requiring a minimum down payment of five per cent for new government-backed mortgages;
Establishing ...
Posted by Robert Atkinson
on September 19, 2008
Being a first time home buyer is an exciting and somewhat intimidating process. If you scan the Internet you can find a wealth of information and you can spend hours upon hours reading it all. While this will make you a more informed person it may also make you feel more intimidated as there is a lot of risk that needs to be pointed out however, without risk there is no reward. Below ...
Posted by Robert Atkinson
on April 19, 2008