Are Mortgage Rates and Home Prices Rising in Ontario?

by | Jan 4, 2017 | Market Trends | 0 comments

Quarterly Forecasts from the Canadian Real Estate Association “The national average price is now projected to rise by 10.5% to $489,500 in 2016, with a slightly smaller gain in British Columbia ($688,300; 8.1%) and a larger gain in Ontario ($535,700; 15.1%). Elsewhere, average prices are forecast to rise by 2.4% in Manitoba, 2.5% in Quebec and 1.9% in New Brunswick. Annual average prices in Alberta, Saskatchewan and Nova Scotia are projected to remain largely stable.” A quote from the following article:...

The Reasons Why A Realtor Is Important

by | Dec 1, 2016 | Market Trends | 0 comments

Why a REALTOR®? Maybe you’re buying a home for the first time. Or maybe you’re selling your old home to move to something new. Whether buying or selling, you’re involved in an intricate process requiring many specialists. One of these specialists might be a REALTOR®, who’s responsible for making the transaction as easy as possible for you. The REALTOR® Difference However, not every licensed or registered broker or salesperson is a REALTOR®. To be a REALTOR®, the agent must be a member of The Canadian Real Estate Association (CREA). And to be a member of CREA, an agent is expected to be: Committed to the REALTOR® Code: The code is the accepted standard of conduct for all real estate practitioners who are REALTORS®. It’s your guarantee of professional conduct and the quality service. Read more about the REALTOR® Code. Knowledgeable about developments in real estate: A REALTOR® can get you the information needed to make an informed decision: comparable prices, neighborhood trends, housing market conditions and more. Actively updating education: Through courses, workshops and other professional development, a REALTOR®maintains a high level of current knowledge about real estate. Access: REALTORS® have access to Board MLS® Systems, which facilitate the cooperate sale of properties to benefit consumers. Benefits of a REALTOR® Whether buying or selling a home, you can trust that your REALTOR® will ensure the transaction is completed competently and professionally. You don’t have to worry about the details – your REALTOR® can take care of them for you. You can get advice from someone with an intimate knowledge of the local housing market. And you can count on...

Real Estate Market – CREA Quarterly Forecasts

by | Dec 1, 2016 | Market Trends | 0 comments

Quarterly Forecasts Ottawa, ON, September 15, 2016 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2016 and 2017. Canadian housing market trends have largely evolved in line with previous expectations over the second quarter of 2016, with the exception of sales activity in British Columbia and Ontario. Sales in the Lower Mainland of British Columbia have braked more abruptly than anticipated, reflecting buyer uncertainty following the introduction of the new property transfer tax on Metro Vancouver home purchases by foreign buyers. By comparison, transactions in Ontario have held steady in recent months near record levels and have yet to show signs of cooling. Taking these factors into consideration, sales forecasts have been revised upward for Ontario and downward for British Columbia. These revisions largely offset each other at the national level. In addition, Alberta’s sales forecast has been revised upward, reflecting better than expected activity during the second quarter and decent sales momentum entering the third quarter. Even so, the current economic climate suggests Alberta sales may struggle to maintain traction over the remainder of 2016 and into 2017. Nationally, sales activity is forecast to rise by 6.0 per cent to 535,900 units in 2016, which is little changed from CREA’s previously predicted sales increase of 6.1 per cent to 536,400 units this year. This represents a new record for annual sales. However, after adjusting for population growth, sales are still expected to remain below the peak reached in 2007. (Figure A) Among the most populous provinces,...