Tuesday, March 17, 2015
Sunday, March 8, 2015
Wednesday, March 4, 2015
EDGE Realty Partners - February 2015
CHUGGING ALONG
Welcome to EDGE Real Estate News & Views if you are a regular reader over the years, I thank you for your loyalty. If you are new to this blog then welcome, hope you find it engaging, helpful and informative. Sign up to receive my monthly updates. I want to thank you all for putting your trust in me and I am honoured to have helped thousands of people in some way. I appreciate the confidence you have placed in me as a reliable and expert on real estate, mortgages and the strategies behind them to make you money.
The Toronto and GTA housing market starts off with good news before the deep freeze hit us in February. Confidence in the real estate as an investment continues remains strong as we saw more listings on the market. Buyers are able to find the home they are looking for; keeping prices stable. Demand remains high relative to supply. The possibility of interest rates approaching record lows will provide even more opportunity for all future purchasers. The real estate resale market remains steady, and we look forward to a productive year ahead.
For the month of January there were 4,355 transactions through the TorontoMLS up 6.1% from 4,103 a year ago. New listings over the month were up 9.5%. to almost 10,000. The average selling price was up 4.9% to 552,575 from a year ago. If you were to look at the average price of a detached home in Toronto it was 948,713 and in the GTA it was 716,127. With the average price increase of 4.2%.
You must be more diligent and aware of your financial future to maintain the costs of running a home aside from your mortgage payment, so size of your home you purchase is important. You could consider a semi-detached home or condo apartment if you are priced out of a detached home. We will continue to see a low supply of low-rise homes on the market thus will see prices move significantly upwards in this type of home.
For an overview of the January real estate market watch this video of the Toronto & GTA Real Estate Market with Jason Mercer of TREB by clicking the link.
Remember, if you are looking to buy and are a first-time homebuyer please takes advantage of the First-Time Home Buyer’s Tax Credit. You will be able to save up to $750 on a qualified home. There is also the Home Buyers’ Plan that allows you to withdraw from your RRSPs for your down payment on a new first home up to $25,000.
Besides being a licensed realtor, I am also a licensed mortgage agent so you are always in good hands!! If the numbers don’t work, decisions are needed to be made as to the next steps to take. There is always a solution!! Let my experience help you. I qualify buyers everyday. I will run the numbers, find you the right lender and ensure you won’t be property poor.
Thank you for letting me be part of your real estate life. To know more about me please visit me on You Tube, Facebook, LinkedIn, follow me on Twitter or call to speak with me directly. Always answering reader questions. You can also reach me through Skype too. Sign up for my blogs and online newsletters. Start by simply filling out the contact form below. Once again, thank you for your continued loyalty.
Welcome to EDGE Real Estate News & Views if you are a regular reader over the years, I thank you for your loyalty. If you are new to this blog then welcome, hope you find it engaging, helpful and informative. Sign up to receive my monthly updates. I want to thank you all for putting your trust in me and I am honoured to have helped thousands of people in some way. I appreciate the confidence you have placed in me as a reliable and expert on real estate, mortgages and the strategies behind them to make you money.
The Toronto and GTA housing market starts off with good news before the deep freeze hit us in February. Confidence in the real estate as an investment continues remains strong as we saw more listings on the market. Buyers are able to find the home they are looking for; keeping prices stable. Demand remains high relative to supply. The possibility of interest rates approaching record lows will provide even more opportunity for all future purchasers. The real estate resale market remains steady, and we look forward to a productive year ahead.
For the month of January there were 4,355 transactions through the TorontoMLS up 6.1% from 4,103 a year ago. New listings over the month were up 9.5%. to almost 10,000. The average selling price was up 4.9% to 552,575 from a year ago. If you were to look at the average price of a detached home in Toronto it was 948,713 and in the GTA it was 716,127. With the average price increase of 4.2%.
You must be more diligent and aware of your financial future to maintain the costs of running a home aside from your mortgage payment, so size of your home you purchase is important. You could consider a semi-detached home or condo apartment if you are priced out of a detached home. We will continue to see a low supply of low-rise homes on the market thus will see prices move significantly upwards in this type of home.
For an overview of the January real estate market watch this video of the Toronto & GTA Real Estate Market with Jason Mercer of TREB by clicking the link.
Remember, if you are looking to buy and are a first-time homebuyer please takes advantage of the First-Time Home Buyer’s Tax Credit. You will be able to save up to $750 on a qualified home. There is also the Home Buyers’ Plan that allows you to withdraw from your RRSPs for your down payment on a new first home up to $25,000.
Besides being a licensed realtor, I am also a licensed mortgage agent so you are always in good hands!! If the numbers don’t work, decisions are needed to be made as to the next steps to take. There is always a solution!! Let my experience help you. I qualify buyers everyday. I will run the numbers, find you the right lender and ensure you won’t be property poor.
Thank you for letting me be part of your real estate life. To know more about me please visit me on You Tube, Facebook, LinkedIn, follow me on Twitter or call to speak with me directly. Always answering reader questions. You can also reach me through Skype too. Sign up for my blogs and online newsletters. Start by simply filling out the contact form below. Once again, thank you for your continued loyalty.
Tuesday, November 4, 2014
CONDOMINIUM OR HOUSE?
Condominium or House?
When choosing the type of lifestyle you want to live you either would
like to live in a house or a condominium. For some people, a condominium
lifestyle is the only way to live; no lawn maintenance, access to a pool and
tennis court, and extra security features you might not have in a single-family
home. Other people simply can’t breathe in a condo because their neighbours are
too close for comfort. Consider the pros and cons and your specific needs and
desires before deciding on whether to buy a condo or a house.
Because of all of the advantages of home ownership in comparison to
renting, many of you will soon be reaching a point where you want to buy a
home. However, you may not be sure whether you should actually buy a house or if
you should look into buying a condo instead. This is especially true for
younger home buyers who might want the benefits of living in a more communal
situation that a condo environment provides.
Should you join the condo club or go for a more traditional home ownership?
A condo is probably the right choice for you if:
- You don’t have a lot of money to spend but still want to invest in home ownership.
- You are interested in being part of a small community living in the same complex.
- You are comfortable living in close proximity to your neighbours.
- You are a single individual or a couple that is looking for a small home rather than a large property.
- You don’t mind having certain aspects of your home ownership regulated by a committee (a home owner’s association made up of some of the tenants who own in the condos).
- You live in an urban area where condos are common (such as Toronto or Vancouver).
- You run a busy lifestyle and prefer to enjoy amenities like a pool or a shaded grounds area but aren’t able to maintain such amenities yourself either because of the time that it takes or the cost.
A house is more likely to be a better choice for you if:
- You have (or
plan to have) a large family.
- You are a
very private person who does not like living close to your neighbours, or
having your home choices regulated by an association.
- You are investing in home ownership
primarily for the purpose of resale of the home in the future (since
property values are usually higher than condo values).
- You are seeking to purchase a large home
and/or you need outdoor areas for things like large pets.
- You enjoy maintaining your own yard or
garden.
- You live in a rural area or in a
location where there are not many condos on the market.
Although there are
always exceptions, condo purchases are usually best for single individuals who
have neither the money to invest in a house nor the time to maintain the upkeep
of a house. These tend to be young people who don’t mind apartment-style living
in close quarters with their neighbours, who are comfortable having some
regulation by the home owner’s association and who enjoy sharing common areas
with others. Often, condo buyers are first time home buyers. If, in
contrast, you are an older adult who has (or may soon have) a family and would like the freedom and privacy of a home
with its own property, then a house is probably the right choice for you.
Regardless of
whether you buy a house or a condo, it's important to do your homework and
consider the future of the neighbourhood you're buying into. The old saying of
"location, location, location" remains true for both. Each is a
significant investment, and you need to find a safe and vibrant neighbourhood
capable of nurturing your investment into the future. For more information contact Ian Johnston Condominium Expert edgeoncondos@hotmail.com
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