Posts Tagged ‘housing market’
Home buyers demand smaller, smarter designs
Posted by: soconnor in New home builders, Real estate industry news on February 24th, 2010
The results of Better Homes and Gardens magazine’s Next Home Survey are in, and buyers have spoken.
Prospective new home buyers list energy-efficiency, organization and comfort as their top priorities in considering their next move. Demand for traditional McMansions appears to be waning as more and more people come to value intelligent design over wow factor.
“We continue to see a ‘cents and sensibilities’ approach when it comes to buying or improving a home, said Eliot Nusbaum, Better Homes and Gardens’ executive editor for home design. “Today’s homeowner is also looking for a home that fits the entire family—from a multi-tasking home office, to expanded storage space, to a living room that can adapt to advancements in home entertainment and technology.”
Builders working to reduce impact of HST on new home buyers
Posted by: soconnor in Finance & insurance, First time home buyers, New Homes and Condos, New home builders, Real estate industry news, Real estate market updates on February 19th, 2010
The controversial new HST rules have been causing quite a stir as their July 1, 2010 implementation date approaches, and nowhere is this more evident than in the realm of the biggest of big purchases, new home sales.
The good news for most Ontario homebuyers is that because of the way the tax is structured, there will be no significant increase in cost for new homes that are priced below $400,000.
Canada home prices may rise 10 per cent in 2010: report
Posted by: editors note in First time home buyers, New Homes and Condos, Real estate industry news, Real estate market updates on December 2nd, 2009
Canadian home-resale prices are likely rise in 2010 at an even faster pace than this year but a dangerous bubble probably won’t develop, TD Economics said in study published on Tuesday.
New home sales up 113 per cent in September
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates on October 23rd, 2009
New home sales surged 113 per cent in the Greater Toronto Area in September, with the high-rise condo market finally coming to life to join the rally in low-rise new home sales that began earlier this year, the Building Industry & Land Development Association announced today.
There were 3,883 new homes and condos sold in the GTA in September, according to RealNet Canada Inc., BILD’s official, independent source of new home market intelligence.
Canadians remain passionate about homeownership, Genworth
Posted by: editors note in First time home buyers, Genworth Financial advice, Real estate industry news on October 22nd, 2009
The desire for homeownership is alive and well in Canada, with many Canadians willing to go to great lengths for it. According to the Genworth Mortgage Insurance Company Canada (”Genworth Financial Canada”) First-Time Homebuyer’s Monitor released today, 68 per cent of renters said they would be willing to delay major purchases and more than half would give up vacations in order to own their own home.
AFFORDABILITY AND JOB SECURITY MOST IMPORTANT FACTORS FOR FIRST-TIME HOMEBUYERS
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates, Resale homes on October 5th, 2009
Canadians who are considering purchasing their first home are primarily motivated by lower home prices and very low interest rates, but some require confidence in the economy and their employment prospects before they will enter the market, according to a report released by Royal LePage Real Estate Services.
Eighty-six per cent of potential first-time buyers say low interest rates make them more likely to purchase a home; 81 per cent cite lower housing prices as a motivating factor; while 76 per cent cite job security and 64 per cent say a stable economy is an important factor in their decision to buy.
August new home sales up 62 per cent
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates on September 22nd, 2009
CNW-Sales of new high-rise condominium suites stabilized in August while sales of new low-rise (single-detached, semi-detached and town-homes) homes spiked by a dramatic 163 per cent, resulting in a 62 per cent increase in total new home sales, August over August, the Building Industry & Land Development Association (BILD) revealed today.
According to RealNet Canada Inc., there were 3,074 new homes and condos sold in the Greater Toronto Area in August, 2009. Monthly high-rise sales were up for the first time this year, albeit very modestly, while low-rise unit sales continued on the exceedingly hot pace of the last several months.
Number One Bloor, Canada’s most prestigious real estate development is now in trusted hands
Posted by: editors note in Real estate industry news on September 17th, 2009
The acquisition of Number One Bloor by Tuscany Ridge Developments Inc. – an affiliate of Toronto-based Great Gulf Group of Companies – becomes official today, paving the way for Toronto’s most prestigious address to soon boast a new landmark building.
Staging helps sell your home
Posted by: editors note in Home improvement tips, Resale homes, Selling your home on September 15th, 2009
Before listing, consider staging your home to give it a competitive advantage.
“Homes that present as move-in ready have strong buyer appeal in today’s market,” explains Jackie Peifer, a realtor with 20 years experience. “These properties sell more quickly which helps protect them from price reductions.”
GTA Resale Housing Sales Up 19 Per Cent in the First Half of June
Posted by: editors note in First time home buyers, New Homes and Condos, Real estate industry news, Real estate market updates, Resale homes, Selling your home on June 19th, 2009
Greater Toronto REALTORS® reported 5,185 transactions in the first half of June – an increase of 19 per cent compared to the same period last year.
“Households in the GTA have become more confident in purchasing a home over the past three months,” said TREB President Maureen O’Neill. “Affordability, due in part to very low borrowing costs, has played a key role.”
The average price for MLS® sales was $407,716, up by two per cent compared to last year.
Gen X to flex new purchasing muscle in recreational property markets across Canada, says RE/MAX
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates on June 12th, 2009
Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country, according to a report released today by RE/MAX.
INCOMING ACMO BOARD ANNOUNCES NEW INITIATIVES
Posted by: editors note in Real estate industry news on June 12th, 2009
The Association of Condominium Managers of Ontario (ACMO) is pleased to announce the Board of Directors for 2009/2010.
Chris Antipas, Vice President of ICC Property Management was elected President of the Board with Dean McCabe (Brookfield Residential Services) elected to the position of Vice President.
Two Thirds (65%) of Ontario Homeowners Oppose McGuinty Government Proposed Mandatory Home Energy Audit Program
Posted by: editors note in First time home buyers, Real estate industry news, Resale homes, Tips for Green Living on May 28th, 2009
A poll released today by the Ontario Real Estate Association (OREA) indicates that two-thirds (65%) of Ontario’s principal residence homeowners oppose the recently proposed McGuinty government mandatory home energy audit program and instead overwhelmingly favor voluntary audits (92%).
Moreover, the poll found that 70 per cent of Ontario homeowner’s think
that mandatory home energy audits will deter homeowners from selling their home, having a detrimental effect on the real estate sector and the Ontario economy.
Housing activity will moderate in 2009, improve in 2010
Posted by: editors note in First time home buyers, New Homes and Condos, Real estate industry news, Real estate market updates on May 28th, 2009
Housing starts are expected to decline to 141,900 for 2009, but increase to 150,300 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition(*) report.
Canadian Housing market shows some spring in its step
Posted by: editors note in New Homes and Condos on May 12th, 2009
Canada’s housing market is showing signs of emerging from its winter hibernation, according to the latest Real Estate Trends report released today by Scotia Economics. Nationally, home sales strengthened in both February and March, and preliminary reports suggest this
firming trend continued in April.
TD Canada Trust 2009 Condo Poll Shows Canadians Believe It’s a Buyer’s Market
Posted by: editors note in First time home buyers, New Homes and Condos, Real estate industry news, Real estate market updates on May 5th, 2009
In a buyer’s market, if you can’t go it alone, find a good friend. The results of the 2009 TD Canada Trust Condo Poll show that the perceptions of the condo market have improved significantly over 2008 with 44% of urban Canadians believing the current conditions have improved for buying a condo as an investment (versus 21% in 2008).
Why? Respondents say it is a buyer’s market and condo prices are declining. If they can’t afford to buy one on their own, 43% are willing to consider a joint purchase with a friend or relative to make the condo purchase possible.
“For Canadians looking to purchase their first residence or make a
long-term investment, condos offer a lower maintenance and lower-cost
alternative to houses,” says Joan Dal Bianco, Vice President, Real Estate
Secured Lending, TD Canada Trust. “This is a good time to explore a condo
purchase given that mortgage rates are very attractive right now and many
condos have dropped significantly in price.”
Canada’s Housing Market: Is now the right time to buy?
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates, Resale homes, Selling your home on April 22nd, 2009
BMO and industry experts shared their insights on the current and future state of Canada’s real estate market at BMO’s Real Estate Forum in Toronto.
The panel discussion is available on video: http://events.snwebcastcenter.com/bmo/20090414/index.php
First quarter new home sales down 62 per cent
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates on April 21st, 2009
New home sales in the Greater Toronto Area were down 55 per cent in March, compared with March 2008, contributing to a 62 per cent decline in first quarter new home sales, Stephen Dupuis, President and CEO of the Building Industry and Land Development Association (BILD) revealed
today.
According to RealNet Canada Inc., there were 1,457 new homes and condos
sold in March versus 3,203 last March. The 55 per cent decrease was driven by a dramatic fall-off in high-rise condominium sales which were down 77 per cent from last March. Low-rise sales (single-detached, semi-detached and townhomes) fared better, relatively speaking, declining 27 per cent from March, 2008
Improve the sales value of your home
Posted by: editors note in Bathroom decor, First time home buyers, Home appliances, Home decor, Home improvement tips, Real estate industry news, Resale homes, Selling your home on March 12th, 2009
(NC)-With the effects of the global economic downturn, the housing market has become an ideal market for home buyers. But if you’re in the market to sell your home, you may be wondering what you can do to use the current economic condition to your advantage. Here are two ways for sellers to improve their situation in a down market:
Make some upgrades
No one wants to sell their home at a price they don’t feel is right. So, if you’re not receiving an offer that you’re comfortable with, use this time to make a few minor upgrades to help increase the sales value of your home.