Some Interesting Real Estate InfoBits

 Check out this video by Chris Angel:


I just finished reading ” How To Win Friends and Influence People” by Dale Carnegie. Here is a summary of what he writes about.

If you have not read the book already I highly recommend it.

 Did you know…..

 * According to the Canadian Mortgage and Housing Corporation the last 10 years have seen a spectacular boost in home equity in Canada. More than half of the increase in Canadian’s net worth since 2000 has been from home equity.

 * Your personal budget is your key to determining your purchase price comfort zone. The bank will preapprove you for a mortgage based on your gross income. You will pay your monthly expenses based on your net income. Understanding where you spend your money monthly is a very important first step in the home buying process.

 * Learning about the different mortgage payment options can literally save you thousands of dollars in interest paid on your mortgage. Having a mortgage specialist on your side that takes the time to educate you is crucial.

 Are you ready to speak with one of our Mortgage Specialists?

 * The longer the amortization period of your mortgage the smaller the monthly payment of principal and interest BUT the greater amount of interest paid overall.

 * The 20,349 new condos sold in 2010 amounts to the second best year ever for highrise condo sales.

 * 45% of all GTA new home and condo sales in 2010 were within the City of Toronto (416) area code. Thats double what it was 10 years ago.

 * 55% of all new home and condo sales in the GTA in 2010 were highrise.

 * How much have some key cities’ home prices in the USA fallen? From peak levels Las Vegas is down 57.2%, Phoenix is down 53.9% and Miami is down 48.8%. This is why many Americans owe double what their home is worth.

 * The changes to amortization rates and refinancing rules will come into force on March 18,2011. The change on the withdrawal of government insurance backing on home equity lines of credit will take effect on April 18.

 * Check out this chart :

How Much Have You Paid - Rent VS Own

Are you ready for your Buyer Planning Session ?

 * Our Market Experience Tours of homes and condos  are a terrific way to gain market knowledge. Sellers fear educated Buyers.

Have you seen the interiors of the houses or condos in your preferred purchase area? It is important that you do .

 * You can now learn about the home buying process at one of our home buying seminars. Join us!

 Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca 

 

Good Start to 2011

Check out this crazy guy!

 Our next Home Buyer Seminar is March 10. Register here.

TREBMarketWatch---2011---January-1 

 Greater Toronto Realtors reported 4,337sales through MLS in January, 2011. This represented a 13% decrease compared to the 4,986 sales recorded in January,2010.  

” While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points,” said Toronto Real Estate Board President Bill Johnston.

The average home selling price for January transactions was $427,037- up 4% compared to the average of $409,058 reported in January 2010.

 ” The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the 3%-5% range will be sustainable from an affordability perspective,” said Jason Mercer TREB’s Senior Manager of Market Analysis.

 Condominium apartments accounted for 26.8%% of total sales in the the GTA while detached homes accounted for 45.4% of the total sales.

 Other notable statistics include the average days on the market for January at 36 days compared to 28 days the same time last year. The sales-to-listings ratio for January  was 36% which is classified as a seller’s market . A ratio from 24%-28% is considered a balanced market.  Active listings were up by 1% from the same time last year.

Sellers are looking for market value for their property . I prepare a comparative market analysis (CMA) for all of my clients prior to submitting an offer to determine the property’s market value range.

Real estate is very neighbourhood specific and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood or on one street does not indicate that all other neighbourhoods or streets are experiencing the same results. We are still seeing multiple offers in some areas for the best homes.

Remember the new mortgage qualification rules kick in on March 17. Your dream home may be out of reach once they do.

 You have 3 weeks to maximize the purchase price of your dream home.

 * Lets meet for a NO OBLIGATION Buyer Planning Session.  FREE Knowledge is power in your planning  Click Here

* Join me in a 2- hour tour of homes,  or a 2-hour tour of condos  . Each tour is specifically set up based on your search criteria.

The House or Condo Tour is a great way to figure out which neighbourhoods and home styles are right for you.

Call me directly at 4165-520-6746 or email me , David@TorontoRealEstate.ca