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Today’s Quote: “Everyone thinks of changing the world, but no one thinks of changing himself”
Today’s Video: Who’s planning a wedding? Check out this video.
: Here is a copy of my latest Newsletter.
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Did you know…..
is an interactive web-based guide by the Appraisal Institute of Canada to give consumers a better idea of the return on investment they can expect for a variety of home improvements.
* According to a survey done this past October by CAAMP ( Canadian Association of Accredited Mortgage Professionals):
– In Canada 78% of borrowers have at least 25% equity in their homes
– Over 80% of borrowers stated they can handle at least a $200 increase in their monthly mortgage payment and 60% stated they can handle at least a $300 increase.
– 21% of borrowers switched lenders when their mortgage came up for renewal.
– The average discount borrowers received on a 5-year fixed mortgage was 1.46% off of the posted rate
* The highest price paid for a Canadian condo was in May 2011. A buyer bought the 55th floor penthouse atop the Four Seasons Hotel Private Residences for $28M….to a foreign buyer.
* In 2012 , Re/Max expects that real estate values in the GTA will increase 5.0% to $488,000 over 2011.
* Sales of GTA homes prices in excess of $1.5m increased approximately 32% over 2010.
* Resale condominium apartments and condominium townhouses accounted for 32% of residential MLS sales in 2011.
* Home sales in the GTA are expected to be strong, rising to 93,000 units by year-end 2012. This figure is on par with 2007’s peak performance.
* Sales of new GTA high-rise condos rose by 22% from 2010 to 28,466. A record year. Combined with 17,460 new low-rise sales a total of 45,926 new houses worth about $22-billion sold in 2011, the second highest year ever. Sales of new high-rise condos for 2012 are predicted to be somewhat closer to the numbers for 2010 at approximately 20,500 units.