While there are many warnings about taking on excessive debt in the current economic climate, it is an excellent time for homeowners, who are able, to invest in their home and to take advantage of low interest rates to renovate to improve property values. A new study suggests that changes and upgrades made to the exterior of the home are what really gives it a boost.
This year's Remodeling ...
Posted by Tricia Greer
on February 2, 2012
2012 has come roaring out of the gate in the hot GTA market. The Toronto Real Estate Board reported that year-over-year, there was a 6% increase in sales and a 3.7% increase in new listings during the first two weeks of January 2012. Furthermore, prices continued to climb, with average prices soaring 8.5% compared to the same time period last year. The market didn't miss a beat after the holiday season, ...
Posted by Tricia Greer
on January 23, 2012
Last week BMO and later TD Canada Trust launched a 5 year promo with a 2.99% fixed rate. Though this is an excellent rate there are conditions that will limit its use. Currently it is a two week promotion, valid until January 25th. The main terms of BMO's special are as follows:
Maximum amortization is 25 years.
Rate hold up to 90 days.
Pre-approvals are allowed.
Lump sum pre-payments: 10% maximum ...
Posted by Tricia Greer
on January 17, 2012
According to CIBC World Markets Canada is unlikely to fall victim to a recession as many other nations are likely to around the globe. They suggest that, while the economy will slow in 2012 the continued low interest rate environment will do much to buoy the economy and keep it from sinking into recessionary territory.
"As an open economy, Canada can't help but feel the disappointment of a ...
Posted by Tricia Greer
on January 16, 2012
Greater Toronto Realtors reported 4,718 transactions through the Toronto MLS system in December 2011. The December result capped off the second-best year on record under the current Toronto Real Estate Board boundaries. Total sales for 2011 amounted to 89,347 - up 4% in comparison to 2010.
"Low borrowing costs kept buyers confident in their ability to comfortably cover their mortgage payments along ...
Posted by Tricia Greer
on January 5, 2012
Is there a best time of year to sell your home? Certainly seasonal factors come into play but there are other factors to consider as well, like supply and demand, as well as unique local market conditions. No matter when a home goes on the market, one should take few things under consideration that will likely affect not just the ability to sell a property but, more importantly, the ability to ...
Posted by Tricia Greer
on December 15, 2011
With all the uncertainty surrounding many of the world's economies there was a sure bet that the Bank of Canada would hold the overnight rate at 1% given the strength of the headwinds blowing against our borders.
The Bank of Canada said in a release, "Uncertainty around the global economic outlook has increased in the weeks since the bank released its October Monetary Policy ...
Posted by Tricia Greer
on December 7, 2011
The Canadian Real Estate Association (CREA) has revised its forecast for home sales activity via the Multiple Listing Service for 2011 and 2012 and the outlook is positive.
Overall both sales activity and prices have come in stronger this year. In fact, instead of its original prediction that sales would decline by about one percent in 2011, CREA is now forecasting a slight rise in national sales ...
Posted by Tricia Greer
on November 28, 2011
Lenders have been making changes to their mortgage rates lately and many in the industry are curious as to what is going on. While the Bank of Canada has lowered its overnight rate the banks have not passed along the full reduction to consumers. (The overnight rate is generally the rate that large banks use to borrow and lend from one another on the overnight market.)
The Bank of Canada reduced its ...
Posted by Tricia Greer
on November 17, 2011
On this November 11th we pause to remember those who have given the ultimate sacrafice and it is fitting to read again the famous poem written by Lieutenant Colonel John McCrae of the Canadian Army.
IN FLANDERS FIELDS
In Flanders Fields the poppies blow
Between the crosses row on row
That mark our place; and in the sky
The larks still singing, fly
Scarce heard amidst the guns ...
Posted by Tricia Greer
on November 11, 2011