Canada Realty News

Back to: August 2008 Newsletter

Investor Features Being Added
Your home is your biggest investment, we'll be adding more info to help you make the most of its investment potential. Check out this Toronto Star article; GTA homes prices went up 6.9% over the past 40 years, the same as the Stock Market. Unlike stock market profits, a primary residence can be sold tax-free. You probably have equity in the house, which can be leveraged to pay for renovations and/or additions. If you're considering selling you may want to follow our owners' example. I would be happy to visit your house and discuss what the market is looking for and how to get the biggest bang for your reno buck.

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OTHER ARTICLES

With Compliments of

Semone Duerr
Sales Representative

Re/Max Hallmark, ltd., Brokerage
2237 Queen St E
Toronto, ON, M1E 1G1
T: 416 699 9292
D: cell: 416 566 6050
homes@GreatTorontoHomes.com
www.GreatTorontoHomes.com

Hi:

Sales and Listings Lower, Prices Up

July, 2010 -- July's sales dipped 34% from July, 09 and listings were the lowest since 2002. However, year-to-date sales were up 12% from the same period. Average price was up 12% from a year ago to $432,253. Read the Complete TREB MarketWatch.

“Market conditions promoting growth in the average selling price have remained in place. While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price,” said TREB.

Despite this, I have noticed a significant upswing in buyers' interest and expect a very busy post-Labour Day season. Rates are low and expected to remain low with the sluggish economy, the HST has gone through and has minimal impact on the existing housing market. Fewer listings will mean more competition amoung potential buyers for a smaller stock of available homes.

Upper Beach Reno

We're down to the painting on our reno project. We're on track for Open Houses the weekend after Labour Day. See my website for daily videos of the construction.

NATIONAL MORTGAGE RATES
Term	Posted Rates*	Best Rates*
6 Month	4.55%	3.95%
1 Year	3.50%	2.45%
2 Year	3.90%	2.80%
3 Year	4.45%	3.35%
4 Year	5.05%	3.80%
5 Year	5.40%	4.00%
7 Year	6.20%	4.80%
10 Year	6.50%	5.20%
Variable Rate		3.25%
Prime Rate		2.75%
* last updated: Aug 30, 2010

The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.