• Facebook
  • Linkedin
  • Twitter

Archive for March, 2009

Renters deciding it is time to jump on the property ladder

Tue, 31st March, 2009 - Posted by Sean Kavanagh - (0) Comment

First-time homebuyers are being lured into the real-estate market by falling prices, lower interest rates, more selection and new government tax credit incentives. Century 21 Miller Real Estate in Oakville, Ontario has reported that sales were up in February, after a terrible January, driven by more first-time buyers entering the market. Many renters are deciding to stop paying the landlord’s mortgage so they can start paying their own. With interest rates at record lows and falling housing prices has sparked first time buyers to jump at the chance to get on the property ladder.

With an abundant surplus of houses for sale, no bidding wars and houses that sit on the market longer allows home shoppers to take their time and find a house for a price they want to pay….and a price they feel is fair value for the property.

For any buyer who is willing to take on a fixer-upper is in a great position to take advantage of the great investment opportunities this market provides them. Not only will buyers be able to pick up homes for a great price, they will be able to get the government to help pay for the necessary renovations.

Ottawa recently announced new tax credits of up to $1,350 for homebuyers to renovate their house or cottage. It also increased the amount first-time homebuyers can withdraw from their RRSPs from $20,000 to $25,000, and implemented a tax credit for first-timers of up to $750 to help cover closing costs.

For more information on buying or selling real estate in Burlington or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Buyers / Market Updates

Provincial Tax Grab Hits the Housing Industry

Tue, 31st March, 2009 - Posted by Sean Kavanagh - (0) Comment

With the housing industry struggling to recover, the provincial government has implemented a new tax plan to set the industry back yet again.

Dalton McGuinty’s government’s plan to harmonize the 8-per-cent provincial sales tax with the 5-per-cent federal goods and services tax will add an extra financial burden on those interested in venturing into the housing market. The new blended sales tax will add a tax burden to many household goods that are currently not subject to provincial sales tax, including the purchase of new homes above $400,000 and the closing costs on the sale of existing houses.

A $360,000 house will add approximately $2,037 to the purchase of a resale home. Resale real estate transactions are not subject to the extra tax on the home itself, just on the costs associated with closing the transactions. Home buyers who are considering purchasing a new construction home that costs more than $400,000 will be subject to the full 13% harmonized tax. New homes sold for under $400,000 are exempt from the extra taxation.

With Toronto residents recently having to swallow the double land transfer tax hit, the province is going after them again with their 13% harmonized tax. Home buyers in Toronto are often already paying $4,000 to Toronto and another $4,000 to the province for the land transfer tax. Now with the added tax due to the harmonization of sales tax, Toronto is becoming even more unaffordable.

The positive is knowing the plan is not set to take place until July 1, 2010. If you were thinking of buying in the near future, you could save yourself some money by completing your real estate transactions before July 1, 2010 to save you some money. If you are a Toronto resident, you would also want to consider moving out of the city to avoid paying the double land transfer tax. Buy moving out of the city and purchasing before July 1, 2010, you would be saving yourself approximately $6000.

For more information on buying or selling real estate in Burlington or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Market Updates

Interest Rate Watch – March 28, 2009

Mon, 30th March, 2009 - Posted by Sean Kavanagh - (0) Comment

Term      Rate

6 Months 5.00%
1 Year     3.25%
2 Years   3.79%
3 Years   3.99%
4 Years   3.94%
5 Years   3.99%
7 Years   4.95%
10 Years 5.25%
Prime      2.50%
Variable  3.30%

Let me help you save money! Send me your email address or give me a call and I’ll send you periodical interest rate updates, along with any other market information you may be interested in.

Buyers and sellers can find everything they need to make the most informed choices on properties in Burlington or Oakville by calling 905-220-9198 or by visiting my real estate resource centre at www.seansells.ca.

Sean Kavanagh

Category : Mortgage

The Hint of Spring Sparks Renewed Interest in Real Estate!

Sun, 29th March, 2009 - Posted by Sean Kavanagh - (0) Comment

House prices continued to slide across Canada in February compared to the same time last year, but activity was up for the first time since September.

The Canadian Real Estate Association said Monday that resale home prices fell 9.2 per cent across Canada last month to an average of $281,972. CREA, also said the number of homes that traded hands on the MLS was up 8.6 per cent. “The first monthly increase in activity since September 2008.”

CREA president Calvin Lindberg said the market typically picks up in February and into the spring, but that this year buyers are being lured by historically low mortgage rates and increased affordability. “Realtors are reporting increased interest especially from first time home buyers,” Lindberg said.

Ottawa also recently announced incentives for first-time home buyers including an increase in how much they can withdraw from their RRSPs from $20,000 to $25,000, as well as a tax credit of up to $750 to help cover closing costs.

“Heightened job insecurity will keep many potential home buyers on the sidelines. Those who are confident about their job situation will benefit from improving affordability in a number of housing markets.”

For more information on buying or selling real estate in Burlington or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Buyers / Market Updates

Owning a home for what you pay in rent!

Sat, 28th March, 2009 - Posted by Sean Kavanagh - (0) Comment

In many real estate markets, prices appear to have fallen enough to make buying cheaper than renting. When you combine falling housing prices with mortgage rates that are near record lows, renters are now finding it easier to jump into home ownership.

Historically, people rented because they couldn’t afford to buy. Prices have dropped so much in certain real estate markets that monthly mortgage payments on single-family detached homes are significantly lower than apartment rents. Housing affordability is at a record high right now and I encourage you all to take the time and research your options. It is time to call your bank to start investing in your future.

The question I am most faced with is “why wouldn’t I just wait until it hits rock bottom?” If anyone knew the answer to that question, we would all be a lot richer! You never know when the market has hit bottom until it starts to rise again. “I should then wait until the market begins its upswing!” is the next thing to be said. Well, the problem with that is you will be competing against everyone else who was waiting for the news to report on the market upswing! Not only will you get into competition when bidding on homes, interest rates will have begun to increase. If you were buying a home in Toronto 2-3 years ago, you would have most likely been in competition and ended up paying over list price for the home…if you got it at all! Today, you would most likely be the only person bidding on that same house and getting it for considerably less than list price. That is one of the many benefits to buying in a down market.

A Small Exercise!
Search my website or the MLS for a home in the area you are currently living in or an area you would like to move to, and call a mortgage broker or your bank to see what it would cost to own that home. This would not cost you a dime, and could prove to be quite enlightening! The money you are currently giving your landlord to pay off his mortgage, could possibly be the same amount of money you could be using to make your own mortgage payments!

For more information on buying or selling real estate in Burlington or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Buyers / Market Updates

Get the Government to pay you….for a change!

Fri, 27th March, 2009 - Posted by Sean Kavanagh - (0) Comment

It is almost Spring time and everyone is itching to get a kick start on their home renovations, but given the current economic situation some of us are hesitant to open up our wallets to dish out those big chunks of change!

The Government is now offering a 15% rebate on all home renovations between January 27, 2009 and February 1st, 2010. While the Government foots the bill for a portion of the renovations, homeowners are certainly more inclined to begin renovations right away.

Always keep in mind that renovations are not just about aesthetics, it is also important to remember that many renovations help you save money in the long run, and help our environment stay cleaner! Some of these products include: low-water consumption toilets, good windows, proper insulation, energy efficient furnaces, and timer-operated temperature controls.

As with all rebate programs there are certain stipulations you must concern yourself with. Don’t jump into the renovation project assuming that you’ll be covered for all expenses. Do your research and find out exactly what renos are covered and which ones are not. Furniture and accessories are not items that are covered under the rebate program but window replacements, any type of bathroom or kitchen renovations, as well as basement renovations are covered! If you are a “Do It Yourselfer” you can still claim for products, materials and even equipment rentals.

Don’t forget to find out if a building permit is required for your renovation. You may disqualify yourself from the rebate if a permit is needed and you don’t apply for one. Protect yourself, get a permit, and get your 15% rebate! Spring is almost here, start planning out your new deck, get your building permits and don’t forget apply for the Home Renovation Tax Credit! Also, be sure to check out the ecoENERGY Retrofit Grants and Incentives site to find out how you can save even more money by using eco-friendly materials in your renovation.

For more information on buying or selling real estate in Burlington or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Home Improvements / Market Updates

Home Renos That Pay Off

Fri, 27th March, 2009 - Posted by Sean Kavanagh - (0) Comment

On the heels of the Government unveiling their 15% income tax credit for home renovations, I thought I would send you some information on the three areas of your home where renovations will really pay off when you want to add value to your home.

The Kitchen:
The kitchen is the best place to put your money, hands down. According to the Appraisal Institute of Canada, the average amount home-owners should spend on a kitchen renovation is about 10 to 15 per cent of the overall value of their home. If you’re renovating the kitchen for personal use and not only for the purpose of investment, and if you are going to live in your house for more than five years, then you should spend 15 to 25 per cent or more. In most cases, you will recover the cost by the time you sell your home- with a 44 per cent higher return on investment than the average.

What do buyers look for?
• Space, functionality and effective, well thought-out storage
• Granite countertops create elegance, plus its resistance to scratches and easy maintenance make it ideal for everyday use
• Quality: don’t skimp on appliances or labour done on renovations. Having the job done well is a value adder, doing it poorly may reduce the value of your home!

The Bathroom:
After the kitchen, bathrooms are the next key space potential buyers look at. A study from Canada’s leading real estate companies shows that a well-designed bathroom renovation can generate up to a 56 per cent better return on investment than the average.

What do buyers look for?
• A spa-like environment: light colours, rich textures
• Luxuries such as water jets in the tub or a steam shower stall
• A large master ensuite with a soaker tub and double sinks

Floor and Wall Finishes:
Don’t undervalue the paint and flooring in your home! Many buyers want a home that’s move-in ready, so the more appealing the walls and floors are, the more interest your home will generate on the market. Flooring can generate a 22 per cent better return on investment than the average. If you have carpet in the family, dining and living rooms, it is recommended to change to hardwood and/or tiles. Not only will it make your home more elegant, but you will also enjoy the benefits of a healthier indoor environment. Simply repainting your walls a warm, neutral colour will give you a 29% better return than other popular renovations.

What do buyers look for?
• Walls should be smooth and painted in a neutral colour which will help enlarge the space
• Currently, hardwood or tiled flooring is the more popular choice for potential buyers
• Flooring should create a good flow between one room to the next and be able to tie in with other elements such as cabinetry, wall colours and baseboards

For more information on buying or selling real estate in Burlington or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Home Improvements

Interest Rate Watch – How Low Can They Go?

Sat, 21st March, 2009 - Posted by Sean Kavanagh - (0) Comment

Interest Rate Watch – March 21, 2009

6 Months  5.00%
1 Year      3.25%
2 Years    3.79%
3 Years    3.99%
4 Years    3.94%
5 Years    3.99%
7 Years    4.95%
10 Years   5.25%
Prime       2.50%
Variable    3.30%

Let me help you save money! Send me your email address or give me a call and I’ll send you periodical interest rate updates, along with any other market information you may be interested in.

Buyers and sellers can find everything they need to make the most informed choices on properties in Burlington or Oakville by calling 905-220-9198 or by visiting my real estate resource centre at www.seansells.ca.

Sean Kavanagh

Category : Mortgage

Alton Village Corner Lot Freehold Beauty!

Wed, 18th March, 2009 - Posted by Sean Kavanagh - (0) Comment

Open house at 4886 Verdi Street in Burlington on Sunday March 22th between 2:00pm and 4:00pm.

Upscale Alton Village corner lot beauty with 1900 ft2 of living space. 3 bedroom + Den and 2.5 bathrooms. Oversized Master bedroom with ensuite including Jacuzzi tub, separate shower and large walk-in closet. Eat-in kitchen with walkout to the fenced in yard. Separate dining room, bedroom level laundry and high end upgrades throughout. Inside garage access. Close to highways, shopping and schools. Great property for young families who need the extra space!

Bring all offers! Come see it before it sells. A beautiful home for only $339,900!

Own this Burlington Beauty for payments as low as $676.90!

For your community real estate resource centre, click here.

For more information on buying or selling real estate in Burlington, or Oakville, Ontario, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my website www.seansells.ca or www.seankavanagh.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Category : Open Houses

Halton – The Safest Place to Live in Canada

Wed, 11th March, 2009 - Posted by Sean Kavanagh - (0) Comment

Have you been looking for a safe place to buy a house to raise your kids? Have you been looking to retire in a community you will feel most comfortable living in? Are you thinking of purchasing in an area where everyone wants to live. Halton region is your best choice.

According to Maclean’s magazine’s 2009 ranking of crime in Canada, for the second year in a row, Halton was named the safest place to live in Canada! To most residents of the region, this will not come as a surprise, but Halton has been deemed the safest place to live in the GTA and the safest regional municipality in all of Canada.

Violent crime is prevalent in Toronto and is rising in the surrounding areas of Peel and Durham, but Halton has not experienced the same levels of crime. Halton Police Chief Gary Crowell acknowledges the efforts of the police force as one of the contributing factors, but offers that it is a community collective that enables the region to remain the safest in the country. “What this Maclean’s ranking does is to validate that our officers, civilians, volunteers, local politicians, and community partners are all equally committed to keeping Halton as safe tomorrow as it is today.”

For more information on buying real estate in the Halton region, or if you have questions about current market trends, mortgages or interest rate information, please visit me again on my websites www.seansells.ca , www.seankavanagh.ca or call me at 905-220-9198 and I’d be glad to answer any questions to accommodate all of your real estate needs.

Sean Kavanagh

Category : Burlington
کارت تخفیف تخفیف گروهی قهوه نسکافه فروشگاه اینترنتی فروشگاه اینترنتی فروشگاه اینترنتی فروشگاه اینترنتی