Archive for May, 2010

Canadian home ownership costs are rising and affordability is eroding, while house prices are due for a correction in the coming year or two, a pair of reports by banks said on Tuesday.

“While the booming housing market is starting to come back to earth, the fact that prices are overvalued today does not necessarily mean that they will crash tomorrow,” said Benjamin Tal, senior economist at Canadian Imperial Bank of Commerce.

He predicted that higher interest rates will lead to a modest decline in prices, probably between 5 and 10 percent, in the coming year or two.

INTEREST RATES, SUPPLY ON THE RISE

Rising interest rates will likely be a main factor affecting affordability. Market observers expect the Bank of Canada will soon raise rates, as soon as next week on June 1, as the economy has shown considerable strength.

Posted mortgage rates started to perk up about a month ago, but have since been pared back after government bond yields fell during the European debt crisis.

While affordability is expected to deteriorate throughout 2010 and 2011, Hogue said cost increases should be “limited as more balanced supply and demand conditions will take much of the steam out of the housing market.”

CIBC’s Tal said “stabilizing forces are already at play”, pointing to rising new listings and a slower pace of climbing home prices.

Home resales slowed in April while new listings climbed, suggesting the country’s real estate market could soon start to cool after a year of surging prices.

If you would like to have a FREE market evaluation conducted on your property, please do not hesitate to call. We can also sit down and discuss what is happening in the market now and what will come in the near future. You can contact me anytime at 905-220-9198 or email me at sean.kavanagh@century21.ca

Sourse – Reuters

Open House. Saturday May 22nd and Sunday May 23rd 2:00pm – 4:00pm

Beautiful home in Bloor West Village. This 3 bedroom Semi in sought after neighbourhood is steps to the TTC, High Park, schools and shopping in the village. Original hardwood and trim, French doors, fireplace and walkout from kitchen to landscaped back yard. Entire home rewired in 09, Furnace only 5 yrs old, central vac installed and private driveway parking.

To see more details and photos, CLICK HERE.

Beautiful home in Bloor West Village. This 3 bedroom Semi in sought after neighbourhood is steps to the TTC, High Park, schools and shopping in the village. Original hardwood and trim, French doors, fireplace and walkout from kitchen to landscaped back yard. Entire home rewired in 09, Furnace only 5 yrs old, central vac installed and private driveway parking. Open house: Sunday May 9, 2-4. Offers welcome May 12 at 6pm.

To see more details and photos, CLICK HERE.

Burlington, Ontario has just been named the third best place to live in all of Canada and best place to live in the GTA, according to MoneySense magazine.

The list is based on data compiled from 179 Canadian cities and towns with populations over 10,000 people. Cities were rated based on climate, prosperity, access to healthcare, home affordability, crime rates and lifestyle with subcategories in each area. Being the best in one category does not make a winner — a city has to score well in all categories to come out on top. The top city was Ottawa with Burlington finished a close third.

To see how other cities ranked, click here – http://www.moneysense.ca/2010/04/30/best-places-to-live-2010/

Open House This Weekend! Sunday May 30th 2-4

Beautiful home in Bloor West Village. This 3 bedroom Semi in sought after neighbourhood is steps to the TTC, High Park, schools and shopping in the village. Original hardwood and trim, French doors, fireplace and walkout from kitchen to landscaped back yard. Entire home rewired in 09, Furnace only 5 yrs old, central vac installed and driveway parking.

For more photos, CLICK HERE!

With roughly 90% of property searches now begin online. The CENTURY 21 brand is experiencing a transformation. Prior to the restructuring of Century21.ca in November 2007, our site had just 92,000 visits per month – in February 2010, that number reached 800,000.

The CENTURY 21 brand is among the world’s most recognized names in real estate – now it’s time to let Canadians know that not only are we the local experts, but we’re leaders in real estate search technology, networking and online marketing that sells properties.

CENTURY 21 Canada Is Now Connected to MORE…..much, much more!

CENTURY 21 Canada now uses MORE technology: by using the latest web marketing, search engine optimization, and social media marketing.

CENTURY 21 Canada now sells MORE homes, with more photos online, special map search functions, property photo tours, and targeted search results.

CENTURY 21 Canada now finds MORE homes for buyers, with more findability online and more neighbourhood expertise in the realtors.

Double-Edged Advantage

The power of the concept, “connected,” lies in its dual meaning:
Connecting with other people remains crucial, and is made easier with technology.

This first type of connecting is all about being more connected to the neighbourhoods you’re interested in. CENTURY 21 Canada realtors really are locally connected to make the home buying and selling experience as smooth and happy as possible.

The second type of connecting – via the Ethernet cable in your computer, wifi in the local cafe, or your Blackberry or iPhone – is all about leveraging today’s rapidly evolving technologies to make the real estate experience easier, faster, better for the consumer. Who doesn’t drive up to a house for sale nowadays, and jot down the address in their BB, take a photo from their cell phone, or both.

Connected to More is all about those connections. Between people. Between applications and devices. Between people and the devices.

Our Other Connections

Century 21 Canada is still offering benefits to all clients through their connections programs. Connections with AirMiles, The Brick, Paint and painting services, plus much much more give you that little extra when you choose to trust in the Century 21 service.

Feel free to give me a call or send me an email to find out more on what I can do as a Century 21 realtor to sell your house using the Century 21 advantage.