Wednesday, May 5, 2010

Market Watch, Real Estate News

More and more news about the housing market. Here is the most up-to-date Market Watch information. What's going on? Well, homes are selling, there's not enough inventory, buyers are looking for deals, and the list goes on. Multiple offers are still happening but not at the same pace.

I am still having trouble finding new listings. With the numbers that the Market Watch is showing, I often wonder why my buyers are waiting. Yes, interest have risen (they always do this time of year) but if you are well prepared and have spoken to your mortgage advisor, then you should be ready. You don't have to jump at the first home that you see, but there is a home out there for every single buyer.

Here's a bit of information from the Market Watch:

“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”

The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009.

“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”

I have been very fortunate to have received a New Land Transfer Tax Calculator. It helps with some of the closing costs, also. Thank you to Stan Gelman, QC, Juris Doctor. A hands on lawyer that is available for your questions.

If you would like to discuss the new Market Watch, or just chat and open a line of communication, call me, Betty Bartusevicius, at 416 427 1875. Also,take advantage of my user friendly website offering more than just a lot of properties for sale. I provide a wealth of informative articles and information useful to all levels in real estate - from the first-time home buyer/seller to the seasoned sellers/purchasers.

Betty Bartusevicius, Sales Representative
Re/Max Reatly Specialists Inc., Brokerage
905 828 3434
Fine Homes In Nine Oh Five

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