Sara Kareer - Blog

Houses for Sale, 63 Springhurst Avenue, Brampton, Ontario L7A 1P5, $334,900, Brampton Real Estate

Sara Kareer — Mon, 15 Mar 2010 00:00:00 GMT

Welcome to 63 Springhurst Avenue, Brampton, Ontario

This lovely 3 Bedroom, 3 Washroom detached home with a Finished Basement is located in a family-friendly neighbourhood within walking distance to Schools and Park. Shopping, GO Transit, and Highways are just a few short minutes away.

The cozy Open Concept Living/Dining Room has wood flooring and a window seat.

The Family Sized Eat-In Kitchen features a large sliding door that leads to the Backyard.

The upper level contains 3 Bedrooms -- the Master bedroom has a walk-in closet and a private ensuite.
The main upper Bathroom has a built-in Linen Closet.

The Finished Basement features a Rec Area, Study Area, Cold Room, and Laundry.

Click here to see more photos.

This Brampton Home won't last long on the Brampton Real Estate Market ... don't miss your opportunity to make this house your home!

Thinking of Buying or Selling a Home or Condo in Brampton, Caledon, Mississauga, Oakville, Toronto, or Vaughan?
Please contact:

Sara Kareer,
Your trusted friend in the Business

Sales Representative
Century 21 Millennium Inc., Brokerage

(tel) 905-450-8300
(toll-free) 1-888-450-8301
(web) www.SaraKareer.com
(web) www.century21.ca/sara.kareer

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TORONTO REAL ESTATE BOARD (TREB) MARKET WATCH REPORT FOR FEBRUARY 2010

Sara Kareer — Wed, 03 Mar 2010 00:00:00 GMT

Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.

“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types. Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.”

New listings also increased in February, climbing 24 per cent compared to the same month last year.

“Annual growth in new listings is expected to continue. New listings growth will start to outstrip sales growth as we move through 2010,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As the market becomes better supplied, we will see more sustainable single-digit rates of price growth.”

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If you would like a copy of the full report courtesy of TREB, please email me!

Thinking of Buying or Selling a Home or Condo in Brampton, Caledon, Mississauga, Oakville, Toronto, or Vaughan?
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Research Shows Canadian Mortgage Market can Manage Risks

Sara Kareer — Tue, 23 Feb 2010 00:00:00 GMT

New research data collected by the Canadian Association of Accredited Mortgage Professionals (CAAMP) suggests that Canadian mortgage lenders and borrowers, including first time homebuyers, are being extremely prudent with their borrowing and lending.

Key findings of CAAMP’s research include:

• Eighty-six per cent of homebuyers chose fixed rate mortgages. This share fell late in the year as variable rates became more attractive (at 2.25 per cent compared to four per cent for fixed rates).

• Among borrowers who chose fixed rates, a significant number opted for longer terms – less than five per cent chose terms of two years or less. Twenty per cent took three year terms, five per cent four years, leaving 70 per cent with a fixed rate for five years or more.

• The vast majority of people who took out their first mortgage last year borrowed less than they could afford to, as their Gross Debt Service (GDS) ratios are far below allowed maximums, even at the higher interest rates that are used to qualify them for their mortgage.

• The high share of fixed rate mortgages and low GDS ratios for homebuyers are contrary to perceptions that consumers and financial institutions are taking on more risk.

To read CAMMP’s research report click here.

Thinking of Buying or Selling a Home or Condo in Brampton, Caledon, Mississauga, Oakville, Toronto, or Vaughan?
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New Mortgage Rules announced to support the Long-Term Stability of Canada's Housing Market

Sara Kareer — Wed, 17 Feb 2010 00:00:00 GMT

The new mortgage changes, announced yesterday by Finance Minister Jim Flaherty, will take effect on April 19, 2010. These new changes are designed to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians.

Here is a recap of the announcement:

1: Higher Qualification Rate:
Given the fact that interest rates are at all time lows, it has been a concern for over a year now that people are qualifying for more than they should be. As a result, all borrowers must now meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term; I do this now for all my Buyers on their preapproved mortgages.

As a result of this change, based on the average home price of $337,000, a buyer with only five per cent down would require roughly $9,200 more in annual income to qualify. A buyer of a $200,000 home would need to earn $5,400 more.

2: Lowered Refinancing Loan to Value:
Maximum loan to value on refinancing owner occupied homes has so far been 95% for less risky borrowers. This is now being changed to 90% so that home owners keep a minimum of 10% equity in their homes should they decide to increase their mortgage to pay off other debts or cover other living expenses.

3: More Down Payment required for Investment/Rental Properties:
Minimum 20% down payment has been introduced for government backed mortgage insurance on non-owner occupied properties purchased for investment/rental purposes. Of course, in order to avoid paying default insurance premium 25% down payment would be required on these non owner occupied purchases.

The government is taking "pro-active, prudent and cautious steps" to prevent a housing bubble. Home purchasing still remains affordable for first time home buyers with the minimum down payment requirement still being at 5%. There were also no changes to the length of amortizations for owner-occupied residences.

Thinking of Buying or Selling a Home or Condo in Brampton, Caledon, Mississauga, Oakville, Toronto, or Vaughan?
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