Inflation seems to be on the rise, and if it is, interest rates will begin to go up too!
Globe and Mail - Mar. 03, 2010 - Inflation set to rise faster than expected - http://www.theglobeandmail.com/report-on-business/inflation-set-to-rise-faster-than-expected/article1487729/
If inflation continues to edge up, the interest rates will follow which will have a slowing effect on our hot real estate market, thereby turning it back into a buyer's market.
Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
Thursday, March 4, 2010
Tuesday, March 2, 2010
...and the Real Estate Market Will Stay Strong
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 0.25%. The Bank Rate is unchanged at 0.5% and the deposit rate is 0.25%.
This means that mortagge rates will continue to stay low which means its a great time to buy or refinance your property!
The next scheduled date for announcing the overnight rate target is 20 April 2010.
Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
This means that mortagge rates will continue to stay low which means its a great time to buy or refinance your property!
The next scheduled date for announcing the overnight rate target is 20 April 2010.
Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
Tuesday, February 16, 2010
Sell Your House Privately - Keep More $$$ and Pay Less in Real Estate Commissions
Approximately 1 in 4 Canadians are now selling their homes privately. Let my office, via http://www.propertyshop.ca/, assist in selling your home privately. You'll save thousands in real estate commissions and you can get my office in at the ground floor!
With the proposed new Harmonized Sales Tax being introduced in the next few months, sellers will have to pay an ADDITIONAL 8% PST on top of the 5% GST they already pay on realtors commissions.
On a $400,000 home at 5% real estate commission and 13% HST, sellers will be paying $22,600 -- and since you will ultimately need a lawyer's involvement, why not retain my office from the beginning to help you sell your real estate at considerable savings!
I can save you $1,000s! Visit http://www.propertyshop.ca/ for more details on selling privately!
Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
Harder to Buy Homes / Mortgage Rules Tightened
It's going to get even tougher to buy homes...especially if you're buying for speculative purposes!
According to our Finance Minister, Jim Flaherty, some of the changes that may be implemented are as follows:
- If you need a CMHC mortgage to purchase, you will have to effectively pass a debt affordability test in order to qualify for a CMHC mortgage.
- Amortization rates are going to be maxxed out at 30 years (instead of the currently held 35 year limit, which itself was reduced from the 40 year limit).
- All borrowers will have to meet standards for a five-year fixed rate mortgage – even if they pick a mortgage for a shorter term or with a variable rate.
- The limit will be lowered for the maximum amount that Canadians can withdraw when refinancing their existing mortgages. It will be reduced to 90% of the value of their homes (from the current limit of 95%).
- The down payment for investment homes (ie: homes that you will not be making your primary place of residence, but renting out, etc.) will be 20%.
The market remains HOT!
Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
According to our Finance Minister, Jim Flaherty, some of the changes that may be implemented are as follows:
- If you need a CMHC mortgage to purchase, you will have to effectively pass a debt affordability test in order to qualify for a CMHC mortgage.
- Amortization rates are going to be maxxed out at 30 years (instead of the currently held 35 year limit, which itself was reduced from the 40 year limit).
- All borrowers will have to meet standards for a five-year fixed rate mortgage – even if they pick a mortgage for a shorter term or with a variable rate.
- The limit will be lowered for the maximum amount that Canadians can withdraw when refinancing their existing mortgages. It will be reduced to 90% of the value of their homes (from the current limit of 95%).
- The down payment for investment homes (ie: homes that you will not be making your primary place of residence, but renting out, etc.) will be 20%.
The market remains HOT!
Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
Thursday, September 17, 2009
Bank of Canada to hold interest rates
It is still a hot market out there!
Houses are being bought at fantastic interest rates! Make sure you shop around for the best mortgage rate for you.
The Bank of Canada has said that it will continue to keep interest rates at an all-time low of 0.25% at least until June 2010!!!!
Even though sellers are, for the most part, commanding top dollar for their homes, it doesn't mean that you still can't negotiate on the purchase price. Make sure you align yourself with an experienced real estate agent and lawyer to gudie you through the process.
Buying or Selling, through an agent or by yourself, my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
Houses are being bought at fantastic interest rates! Make sure you shop around for the best mortgage rate for you.
The Bank of Canada has said that it will continue to keep interest rates at an all-time low of 0.25% at least until June 2010!!!!
Even though sellers are, for the most part, commanding top dollar for their homes, it doesn't mean that you still can't negotiate on the purchase price. Make sure you align yourself with an experienced real estate agent and lawyer to gudie you through the process.
Buying or Selling, through an agent or by yourself, my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!
Thursday, June 18, 2009
Buyers Market Creeping Back
GTA May Resale Housing Sales Higher Than Last Year
May 2009 had reported 9,589 sales, up almost 2% from May 2008 – the first annual increase since December 2007!!!!
The first half of June 2009 has reported 5,185 transactions – an increase of 19% compared to the same period last year.
Prime Rate is still low, but the fixed interest rates are creeping up too...but even at 3.5%-4%, that's still a fantastic rate! With houses rising and interest rates rising, it's sliding into becoming a Seller's Market again. Don't let that stop you from buying and negotiating! Negotiate the purchase price and shop around for the best interest rate!
Buying or Selling, through an agent or by yourself, my office can assist with your real estate transactions as well as your Wills & Estate and Corporate needs!
May 2009 had reported 9,589 sales, up almost 2% from May 2008 – the first annual increase since December 2007!!!!
The first half of June 2009 has reported 5,185 transactions – an increase of 19% compared to the same period last year.
Prime Rate is still low, but the fixed interest rates are creeping up too...but even at 3.5%-4%, that's still a fantastic rate! With houses rising and interest rates rising, it's sliding into becoming a Seller's Market again. Don't let that stop you from buying and negotiating! Negotiate the purchase price and shop around for the best interest rate!
Buying or Selling, through an agent or by yourself, my office can assist with your real estate transactions as well as your Wills & Estate and Corporate needs!
Thursday, April 16, 2009
Selling You House Privately and SAVE $$$$
Approximately 1 in 4 Canadians are now selling their homes privately. Let my office, via http://www.propertyshop.ca/, assist in selling your home privately. You save thousands in real estate commissions and you get my office in at the ground floor!
With the downturn in the economy, declining real estate market and the proposed new Harmonized Sales Tax being introduced in 2010, buyers and sellers will be tightening their purse strings. Sellers will have to pay an ADDITIONAL 8% PST on top of the 5% GST they already pay on realtors commissions. On a $400,000 home at 5% real estate commission and 13% HST, sellers will be paying $22,600 -- and since you will ultimately need a lawyer's involvement, why not my office from the beginning to help them sell your real estate at considerable savings!
I can save you thousands of dollars. Visit http://www.propertyshop.ca/ for more details on selling privately!
Buying or Selling, through an agent or by yourself, my office can assist with your real estate transactions as well as your Wills & Estate and Corporate needs!
http://www.goldshlager.ca/
Subscribe to:
Posts (Atom)