A close look at "For-Sale-By-Owner" (FSBO) data from The National Association fo Realtor's 2006 Profile of Home Buyers and Sellers
Each year a small army of home sellers throw caution to the wind and “go it alone” — without the assistance of a licensed real estate professional. Now they can get a boost by putting their home listing on the MLS website which many home owners ...
Posted by Robert Atkinson
on February 1, 2011
Finance Minister Jim Flaherty announced three new changes to financing rules. Effective March 18, 2011, it will become harder to buy a new home or consolidate debt into your mortgage. What are the changes?
The maximum amortization period has been reduced from 35 years to 30 years for mortgages that are insured by CMHC where the homeowner has less than 20% equity ...
Posted by Robert Atkinson
on January 18, 2011
Greater Toronto REALTORS® reported 4,395 existing home sales for the month of December, bringing the 2010 total to 86,170 – down by one per cent compared to 2009.
“Market conditions were anything but uniform in 2010. We went from supercharged sales activity during the first four months of the year, to a marked drop-off in transactions in the summer and then in the fall saw sales climb ...
Posted by Robert Atkinson
on January 14, 2011
Sales were strong in November with 6,510 existing home sales, down 13% from 7,446 sales in November last year. New listings were also down 13%. In a nutshell, people are still buying and selling homes, prices are steady with prices generally increasing however slightly. The GTA continues to be a popular place to live!
On a month-over-month basis, the seasonally adjusted annual rate ...
Posted by Robert Atkinson
on December 16, 2010
If you're selling your house, one of the first steps you'll take is setting an asking price, a task that requires the ability to find the perfect balance between attracting solid offers and ultimately receiving top dollar.
If you're working with a Realtor, you'll probably hear talk of fair market value, which typically means the highest value an educated buyer will pay. Fair market value is usually ...
Posted by Robert Atkinson
on October 24, 2010
Last year no one wanted to talk about the market as the focus was on jobs and economy. For those who were looking for a bargain 2009 was the year to sell and buy or just buy. This year, many of the folks who bought last year in the dip sold this year and made a very nice profit, very nice indeed!
This year started off with a bang as many buyers flocked to the market looking for home, ...
Posted by Robert Atkinson
on June 10, 2010
Yes, it can be confusing but it's not necessary. Here's a table that explains it quite simply.
New Homes up to $400,000
- before July 1, 2010 5% GST payable / no change after July 1, 2010
- The new housing rebate will be 75 per cent of the Ontario component of the HST, up to a maximum of $24,000. The rebate will ensure that buyers of homes priced up to $400,000 will, on average, ...
Posted by Robert Atkinson
on May 4, 2010
Economists are predicting the current activity in housing to slow down. This means home prices will stabilize as the demand begings to balance with the availability.
See this attached story from the Toronto Sun.
Last year’s comeback for Canada’s housing market will carry through early 2010 but subdued activity is on the horizon as higher prices and interest rates make property ...
Posted by Robert Atkinson
on March 26, 2010
According to many of Canada’s top economists, higher interest rates – and debt servicing costs – may be just around the corner. Exactly when rates will rise is unclear and depends on who you talk to.
In its latest Financial System Review, The Bank of Canada judges that vulnerability of Canadian households to adverse wealth and income shocks has grown in recent years. “At ...
Posted by Robert Atkinson
on February 2, 2010
Canada's real estate market is changing faster than ever before. Depending on your province, city - and sometimes even your street - real estate prices may have dropped, increased or remained stable over the past few months.
Due to this variance, real estate sales representatives like to remind folks that all real esate is local and that the national trends you hear in the news can often be ...
Posted by Robert Atkinson
on January 26, 2010