Friday, January 25, 2013

What to Expect in the Real Estate Market for Spring 2013

According to the Globe and Mail, the predictions for the Real Estate Market for the Spring of 2013 can be summed up with the word: balance.

Meaning, there is a prediciton that the Real Estate market will be active with Sellers hoping for a 'Spring Rebound' and there will be Buyers, looking for a 'deal'.

But as Bank of Montreal economist, Douglas Porter puts it:

"...Any number of factors could upset the balance, and the tilt could go either way"



The rest of the article goes on to state that so far sales have slumped, with the most recent numbers showing a 19.4% drop in December, compared to a year earlier.

This could be the soft landing that many economists have been predicting.

There is still the risk that the market could spriral down into a 'viscious circle' as the mortgage rules in Canada were tightened last year.

On the other hand, the Market could climb and regain itself as a mirror to the US market as they continue to grow strong.

Still with these two different scenairos, Porter is putting his money on the scenairo that "real estate prices in Toronto, at the end of 2013, will be slightly lower than they were at the end of 2012".

For more on this article, click here:

http://www.theglobeandmail.com/life/home-and-garden/real-estate/what-will-spring-bring-for-toronto-real-estate/article7462372/

Friday, January 04, 2013

The Top Real Estate Stories of 2012

Happy New Years to all of my family, friends and clients.

What a year 2012 has been and only more exictement and happines for 2013 is what I wish for everyone!

Here is an interesting article from the National Post on the Top Real Estate Stories of 2012.

MARK RALSTON/AFP/Getty Images

1. Why it is better to rent than Own...
2. Canada braces for a housing slowdown
3. What Canadians need to know about buying U.S. real estate
4. Ottawa tightens mortagage rules to avoid housing crisis
5. The 10 year mortgage vs. the 5 year mortgage: Which one is better?
6. Low mortgage rates are not an invitation to rack up debt
7. Home ownership in Canada reaches new heights
8. Are we worrying ourselves into a house crash?
9.Boomers are warned that using house sales for retirement, could backfire
10. As Housing market slows, industry scrambles to paint better picture.

To read these articles more in depth...please visit: http://business.financialpost.com/2012/12/21/top-2012-housing-stories-from-crash-warnings-to-rent-vs-buy/?__lsa=bdf3-0291

Wishing everyone the best in 2013!