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June 2009
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Our Readers Write |
 Mary
Janet remembers her aunts building the original building of our
Fallingbrook Road reno/addition project in 1939. Glenn's back
with more on Raccoon disease. ...
read more |
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Record Luxury Home Sales |
| May was the
strongest month ever for sales of luxury homes in the GTA. 273
homes sold for more than $1 million, vs 258 in May, 2008 - 6%
more. ...
read more |
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US Market Finally Bottoms |
 Many
readers, and the public, get the impression our market is like
the States. It isn't, but it's worth observing. New construction
surged 17% and existing home sales and prices rose south of the
border. Record foreclosures mean prices will stay low ...
read more |
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Market Watch - June 2009
Housing Sales Continue to Trend Upward |
 Figures
released by real estate boards around the country are showing a
positive upward trend in sales driven by improved affordability and
less uncertainty about the future. ...
read more |
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Pricing Your Home To Sell Fast In a Buyer's
Market |
 It's
tough being the seller in a buyer's market. However, you can improve
your odds with the right research. In many cases, making a smart
deal and getting the best price comes down to studying your market
and being an educated seller. ...
read more |
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Give Your Home an Inexpensive and Fun Makeover
This Summer |
 Many
homeowners want to change their home’s decor but think they can’t
afford it. Some even feel they should use the money to pay off their
mortgage. However, revamping your home decor doesn't have to cost
you a bundle. All it takes is creative think... ...
read more |
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Buying a Home? Take Charge and Be in the Pilot
Seat! |
 Buying
a home is one of the major decisions that you will make in life, and
is one of the largest financial transactions in your lifetime.
Although there is much to consider when buying a home, if you do
your research and approach the home buying pro... ...
read more |
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Understanding Title Insurance |
 Title
Insurance gives homeowners protection should someone else claim a
legal interest in their property. It also protects homeowners
against loss resulting from pre-existing municipal work orders,
survey issues, certificate of location defects, unpa... ...
read more |
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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:
The GTA market remains on the upswing, as do
national and the US. See "Market Watch.." for more nationally. The
Toronto Real Estate Board reports May's average price of
$395,609
is $16,000 above 2008's average and down 1% from May 2008.
The
Bank of Canada's guarantee to keep rates at historic lows until
2010 and slightly lower prices continue to bring buyers back.
Quality houses are back as more sellers get into the market. About
15% of GTA sales are going over asking and multiple offers are
frequent.
Equally important, inventory of unsold houses
(active listings) is reduced substantially, down 28% from May, 08.
This will put upward pressure on GTA prices. We believe even more
it's time to start
looking for those bargains. Our
in-depth analysis
of the real estate market from Feb. is still worth reading; as is
our broker's advise from February to
"Buy
Toronto Real Estate."
Semone and Jim Duerr |
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NATIONAL MORTGAGE RATES |
|
Term |
Posted
Rates* |
Best
Rates* |
|
6 Month |
4.75% |
3.95% |
|
1 Year |
3.90% |
2.75% |
|
2 Year |
4.05% |
3.05% |
|
3 Year |
4.15% |
3.65% |
|
4 Year |
4.85% |
3.95% |
|
5 Year |
5.25% |
4.30% |
|
7 Year |
6.60% |
5.25% |
|
10 Year |
6.70% |
5.25% |
|
Variable Rate |
3.25% |
|
Prime Rate |
2.25% |
|
* last updated: June 15,
2009 |
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