Second-Best Year on Record for Newmarket home Sales
January 25, 2012 -- Newmarket REALTORS® reported 64 transactions through the TorontoMLS® system in December 2011. The December result capped off the second-best year on record for Newmarket. Total Newmarket Home sales for 2011 amounted to 1,397 – up four per cent in comparison to 2010.Click here to read more
January 20th, 2012 the Bank of Canada did what we expected them to do… they maintained their overnight rate. The Bank prime rate remains at 3.00%.
Location, Location, Location Where you live is just as important as the home you live in. If you're a parent, you most likely want your kids to go to a decent school. You may be a foodie who wants to be close to eateries, or perhaps you need transit to get to work on a daily basis. Your lifestyle can be greatly affected by where you live so be sure to check out potential neighbourhoods and see if it's somewhere you can imagine spending your time in.
These are all considerations to think about when buying a Newmarket home. The decisions are never black and white, more like shades of grey. Do your homework and enjoy the process. It's going to be an adventure!
Thinking about buying a Newmarket home? You've come to the right place. In this section, you'll find a wealth of information and advice about every step of the real estate process.
Thinking about selling your Newmarket home? You've come to the right place. This section takes you through the steps of selling your Newmarket property, and offers valuable information and resources for sellers.
This section allows you to view all listed properties on the MLS system.
York Region housing sales to rise 5 per cent in 2011, house prices increase to an average of $356,500.
Newmarket, Aurora, and surrounding area house sales will increase by about 5 per cent next year and prices will hit new records, predicts a new forecast by Central 1 Credit Union released today.
MLS® housing sales in Ontario fell to an annualized rate of 155,000 units last July and have climbed since, helped by low mortgage rates, improved affordability and an improving economy. Central 1 expects sales to continue to grow early in 2011 to an annualized rate of 210,000, before tailing off in the second half as mortgage rates rise.
The forecast is for Ontario sales this year to reach 194,000 units, down 0.9 per cent from 2009, rise to 204,000 units in 2011 but fall 3 per cent to 197,000 units in 2012. Prices will continue their upward trend, hitting $342,100 this year, $356,500 in 2011 and $365,000 in 2012.
Ontario housing starts increased dramatically last spring before trailing off towards the end of the year, and are expected to reach 61,000 for 2010, a 21 per cent increase over 2009, but that total will be the second lowest since 1998. In 2011 builders will start 66,000 units, up 9 per cent, and starts will increase a further 7 per cent in 2012 to 70,700 units.
But starts will be below the pace of new household formation so a housing shortage will put pressure on resale home prices, providing an incentive for builders to start 80,000 units in 2013.
The vacancy rate for apartments will be flat in 2011 at 3.7 per cent, but will decline to 3 per cent in 2012. “High youth unemployment has meant more young people are living at home, or sharing accommodation, which has pushed the vacancy rate up,” Pastrick says.
Mortgage rates are predicted to increase slowly in 2011 from an average of 5.40 per cent in the first quarter to 6.50 per cent by the fourth quarter of 2012, as the Bank of Canada slowly increases its policy rate.
SELLING YOUR HOME ON YOUR OWN - OR USING A REAL ESTATE SALESPERSON
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.
Home value sometimes referred to as "Value in Use", is best described as the probable price at which a home trades in a free, competitive, and open market and is synonymous with the market value.
If you have decided that now is the time to sell your home, you might be thinking: should I hire a Real Estate Sales Representative or do it alone. Have you ever considered repairing your own car? Anyone can buy the tools and parts. However, most of us just do not have the knowledge, training, experience or the expertise and commitment of time to do the job properly. Besides, there are plenty of experienced professionals to do the work for us.
HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE
When should I sell my home? Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.
A hot market is a "seller’s market". During a seller’s market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.
There are many television shows today that focus on home staging. If you have not watched any, do yourself a favor and tune in. They all say the same thing: do not even consider putting your house on the market until you have taken a close look at its condition. Experienced sales people know that you only have one shot at impressing potential buyers, so take some time to prepare your home for showings. You will be rewarded with a faster sale and a higher offer.
A very accurate saying is that "Any home will sell once you get the price right." Of course, this is usually said from the perspective of dropping a price until it's too attractive to pass up. Actually, the accurate pricing of your home prior to listing is as much an art as it is a science.
Whether buying or selling a home, one activity will be part of the process in all cases and for all involved. Let’s look at the offer to purchase contract and negotiation process from both sides
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