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Archive for November, 2008

BEEN WAITING FOR OAKVILLE TO BECOME AFFORDABLE? YOUR OPPORTUNITY IS NOW!!!

Fri, 28th November, 2008 - Posted by Sean Kavanagh - (0) Comment

A high demand ground floor 2 level suite in desirable Oakville locale. A perfect home for first time buyers. Freshly updated in contemporary design and décor. Walkout to patio and gorgeous treed area from open concept dining/living room. Oversized master bedroom with walkout porch and 2 walk in closets. Neighbourhood stocked full of amenities! Close to QEW, schools, Sheridan College, Go transportation, parks, shopping and restaurants. UTILITIES INCLUDED in one small payment!!!!!!!!! Heat + Water + Hydro + Building Insurance + Parking + Common Elements + Cable T.V. ALL OF YOUR MONTHLY BILLS PAID IN ONE CHEQUE!

Visit www.seansells.ca for a 24/7 open house experience OR call 905-220-9198 for a personal viewing.

Sean Kavanagh

Category : Sold

Canada’s “Sober and Sensible” Banking System.

Sat, 22nd November, 2008 - Posted by Sean Kavanagh - (0) Comment

According to the governor of the Bank of Canada, the global financial crisis could have been avoided if every country had had a banking system like Canada’s. He went on to say that the world would have been spared this global financial catastrophe if other international economic powers had a banking system “as sober and sensible” as ours. The World Economic Forum has recently rated Canada as having the soundest banking system in the world.

“What we did was that we had an absolute restriction on how much leverage, how much borrowing our banks could do,” he said. Taking a swipe at the failed system to the south, he went on to add that Canada was most sensible in refraining from handing over money to unqualified borrowers. The States were offering “Sexy” options for anyone wanting to borrow “but it turns out some of the sexier things that they were doing were quite foolish.”

Banks have made terrible decisions that have “short circuited some of the very basic aspects of banking.” While other international banking systems are trying to stop the unravelling of their financial sectors, Canada has already put in place certain measures to prevent such a disaster. Eliminating the 40 year, zero money down option was the start. The government has also reinforced its banking systems with loan guarantees to prevent the slide into economic despair. A slide many other economic powers of the world will be unable to avoid.

It is important to note that although our economy has significant ties to our friends from the south, our banking system remained independent and developed a safer, more sensible policy on protecting our economy.

Sean Kavanagh

Category : Market Updates

Buying up in a down market!

Fri, 21st November, 2008 - Posted by Sean Kavanagh - (0) Comment

Have you been waiting for a time when home ownership would become affordable again? Now is that time! With housing prices as low as they are, it is now easier for the renters who always wanted to buy, for the young couple in the townhouse or condo that have been waiting to buy the larger house with a great yard, or for the family who have always wanted to afford a cottage….now is the time! For those of you discouraged with the down turn in the real estate market, fret no more! I will outline for you how buying now makes perfect economic sense.

Let’s say that the market has decreased the value of homes by 10%. You are currently living in a condo/townhouse that was valued at $180,000 2 years ago. You have always wanted the bigger, detached house with a yard for the kids to play, but the value drop of 10% has now placed your lovely property at a new value of $162,000. TERRIBLE!..or is it? Well, consider this. If your property has dropped 10%in value, so would the value of your next property. If $400,000 was the maximum your family was willing to spend for the purchase of your next property, and considering the 10% reduction in value, a house that was worth $420,000 2 years ago has now come down well within your budget at a very affordable $378,000! To analyse this further, look at the savings in value by buying in the down market.

Current home net difference = $180,000 – $162,000 = $18,000
Future home net difference = $420,000 – $378,000 = $42,000
Total net difference = $24,000

By moving up now, you are saving yourself $24,000 in value than if you would have bought at the peak of the market.

Many people have said they want to wait until the market bottoms out before they buy. Please consider that the bottom of the market is not an absolute position, but rather a relative position to a rising market. The only time you will know the market has bottomed out is when it begins to rise again. This is reason in itself to buy before the market begins to go up. You must also consider certain economic activities that occur in a market that is sloping downward, as opposed to a market that has reached bottom and has begun to move back in an upward direction. In a downward market, interest rates tend to be lower in attempts to stimulate activity, housing inventory is abundant, bidding wars are uncommon making for a more relaxed home shopping experience and you get to live in your dream home sooner! As the market turns and begins to rise, interest rates start to rise with it. More buyers come back on the market, creating more completion, reducing the amount of available housing while driving up the prices.

If you are interested in learning more about the direction of the market, the value of your own property or the affordability of your next home, please contact me for a free consultation at 905-220-9198 OR at www.seankavanagh.ca

Category : Buyers

Toronto Real Estate Market Report – October 2008

Sun, 16th November, 2008 - Posted by Sean Kavanagh - (0) Comment

GTA sales down 35%; Toronto down 38%

Toronto Real Estate Board Members reported 5,155 sales in October, down 35 per cent from the 7,915 sales reported in October of 2007, and also down 25 per cent from the 6,876 sales reported during October 2006. Within the City of Toronto, 2,136 sales were recorded. This was down 38 per cent from the 3,455 sales recorded in October of last year. In the 905 suburbs, however, the 3,019 sales recorded were down 32 per cent from October 2007’s figure of 4,460.

GTA-wide, prices declined 10 per cent to $352,974 from last October’s average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to region. The City of Toronto average was $376,896, down 13 per cent from the $434,022 recorded during the same month in 2007, and down about three per cent from the $386,807 recorded in October 2006. Meanwhile, the average for the City’s 905 suburbs was $336,049.This is down eight per cent from the $364,142 recorded last October, and up one per cent from the $333,166 recorded in October 2006.

Breaking down the total, 2,064 sales were reported in TREB’s 28 West districts and averaged $335,329; 892 sales were reported in the 14 Central districts and averaged $450,437; 946 sales were reported in the 23 North districts and averaged $382,032; and 1,253 sales were reported in TREB’s 21 East districts and averaged $290,719.

For market information specific to your area of Toronto, or any other area of interest, please call or send me an email so I can send this valuable market information to you on a regular basis.

Sean Kavanagh

www.seankavanagh.ca
www.kavanaghrealestate.ca

Category : Market Updates

Open House – Sunday, November 16 from 2:00pm – 4:00pm

Fri, 14th November, 2008 - Posted by Sean Kavanagh - (0) Comment

Come visit us at 2240 Greening Lane on Sunday, November 16th between 2:00pm and 4:00pm to view this Bronte Woods beauty! 3 bedroom, 3 bathroom freehold townhouse located near Appleby Line and Upper Middle Road.

Ensuite bathroom, single car garage, main floor laundry and eat-in kitchen.

Get there early as the recent price drop will have it sold quickly!

For more information on this great property, call me at 905-220-9198, send me an email at sean.kavanagh@century21.ca or just browse my website at www.kavanaghrealestate.ca.

Hope to see you all at the open house.

Sean Kavanagh

Building Lasting Relationships and Exceeding Expectations

Category : Open Houses

OPEN HOUSE – SATURDAY NOVEMBER 15TH – UPPER MILLCROFT TOWNHOME

Fri, 14th November, 2008 - Posted by Sean Kavanagh - (0) Comment

COME VISIT US AT 2963 GUIRE COMMON BETWEEN 2:00PM AND 4:00PM THIS SATURDAY TO VIEW THIS STUNNING FREEHOLD IN MILLCROFT.

AWARD WINNING “MONARCH” UPPER MILLCROFT SOPHISTICATED OPEN CONCEPT STYLE TOWNHOME FEATURING – PORCELAIN TILES IN FOYER – EXPRESSO HARDWOOD AND STAIRS WITH WROUGHT IRON PICKETS – FORMAL LIVING ROOM AND DINING ROOM WITH COZY GAS FIREPLACE – LARGE EAT-IN KITCHEN WITH TALL CABINETRY, RAISED BREAKFAST NOOK, AND WALKOUT TO FENCED BACKYARD – MASTER BEDROOM WITH HUGE WALKIN CLOSET AND 4PC ENSUITE – UPPER LEVEL LAUNDRY – 2 MORE SPACIOUS BEDROOMS COMPLETE THE UPPER LEVEL – PROFESSIONALLY FINISHED LOWER LEVEL WITH PLENY OF STORAGE ROOM.

FOR MORE INFORMATION ON THIS PROPERTY, PLEASE LOOK TO MY WEBSITE WWW.KAVANAGHREALESTATE.CA OR GIVE ME A CALL AT 905-220-9198.

IF YOU ARE LOOKING FOR A FRIENDLY, DILIGENT AND HARD WORKING SALES REPRESENTATIVE, PLEASE COME BY TO VIEW THE PROPERTY SO WE CAN HAVE A CHAT ABOUT YOUR NEEDS.

Sean Kavanagh

Building Lasting Relationships and Exceeding Expectations

Category : Open Houses

Burlington Real Estate Market Report – October 2008

Fri, 14th November, 2008 - Posted by Sean Kavanagh - (0) Comment

Burlington, Ontario: Although I reported last month that Burlington was holding steady in most categories, it seems the region is finally showing a downward turn and with increased inventory and decreasing prices, the market has shifted in favour of the buyer.

Average prices were $368,268 in October 2007 to $322,088 in October 2008 representing a 12.5% fall from this time last year. There was also a sharp drop in prices from last month from an average in September of $370,479 to a year low $322,088 in October.

Although the October statistics look bleak, the area is still showing an overall 5% increase in prices from last year. Sellers are receiving 92% of their asking prices for their properties, down from 96% last month and down from 97% this time last year. Houses are currently remaining on the market for an average of 44 days and Burlington has sold 217 units this month, compared to 289 units sold this time last year marking a decrease of 25% or 72 units.

If you were looking for the time to buy a home in the beautiful city of Burlington, this is it! Find your dream home at an affordable price if you start looking today!

For market information specific to your area in Burlington, or any other area of interest, please call or send me an email so I can send this valuable market information to you on a regular basis.

Sean Kavanagh

www.seankavanagh.ca
www.kavanaghrealestate.ca

Category : Market Updates

Oakville Real Estate Market Report – October 2008

Thu, 13th November, 2008 - Posted by Sean Kavanagh - (0) Comment

Oakville, Ontario: If you were ever looking for the right time to buy in Oakville, don’t wait any longer as now is the time. With decreased prices and a large inventory of properties, this market has turned into a buyers dream!

Average housing prices in Oakville have dropped from $541,683 in October 2007 to $461,882 in October 2008 representing a 14.7% decrease. Prices have also dropped from $495,121 in the month of September to $461,882 in October. Sellers are still receiving 96% of their asking prices for their properties, houses are currently remaining on the market for an average of 50 days, 10 days longer than last month, and Oakville has sold a year low 163 units this month, compared to 295 units this time last year marking a decrease of 44.75% or 132 units.

For everyone who has always dreamed of living in the beautiful area of Oakville, now is the time to find your dream home at a price you can afford!

To stay current with real estate market information in the Oakville area, or any other area of interest, please call or send me an email so I can send this valuable market information to you on a regular basis.

Sean Kavanagh

www.seankavanagh.ca
www.kavanaghrealestate.ca

Category : Market Updates

Open House – Saturday, November 8 from 2:00pm – 4:00pm

Wed, 5th November, 2008 - Posted by Sean Kavanagh - (0) Comment

Come visit us at 2240 Greening Lane on Saturday, November 8th between 2:00pm and 4:00pm to view this Bronte Woods beauty! 3 bedroom, 3 bathroom freehold townhouse located near Appleby Line and Upper Middle Road.

Ensuite bathroom, single car garage, main floor laundry and eat-in kitchen.

Get there early as the recent price drop will have it sold quickly!

For more information on this great property, call me at 905-220-9198 or send me an email.

Hope to see you all at the open house.

Sean Kavanagh

Building Lasting Relationships and Exceeding Expectations

Category : Open Houses

NEW PRICE!!!! Open House – Sunday November 2 from 2:00pm – 4:00pm

Sat, 1st November, 2008 - Posted by Sean Kavanagh - (0) Comment

Come visit us at 4177 Rawlins Common on Sunday, November 2nd between 2:00pm and 4:00pm to view this North Burlington beauty!  3 bedroom, 3 bathroom freehold, end unit townhouse located just off Dundas street between Walkers Line and Appleby. 

Get there early as the recent price drop will have it sold quickly!

For more information on this great property, call me at 905-220-9198 or send me an email.

Hope to see you all at the open house

Category : Open Houses
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