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Category Archives: Pre-Construction

Instant price estimates for property. Is it impossible or possible?

10 Saturday Dec 2011

Posted by gtarealtyagent in BANK SALE P.O.S. - TAX SALE, current real estate affaiirs, Houses, Interest Rates, Leasing/Renting, Let's Talk Investing, Listing of the Day, Mortgage, Multiplex-Multi Residetial Investment, Neighbourhoods, New Canadian Immigrants, New Development/Week, Opinion, POWER OF SALE-FORECLOSURE PROPERTY, Pre-Construction, Re/Max, Real Estate info & ideas

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cma, comparative market analysis, Instant price estimates for property. Is it impossible or possible?, Market Evaluation, property


Instant price estimates for property. Is it impossible or possible?

 There are some online appraisal websites where if you click on the tab and enter an address it will ask a few questions and give you a value estimate. You are required re-read the cautions about the service as it does have some limitations. That being said, I have played with the tool, and it is not too scary as thought but if it is accurate? !!!

Some REALTORS do over the phone evaluations. And they claim to be exactly and precisely right. Although I will do them in certain areas that I am highly familiar with I always recommend allowing a proper market evaluation as some things you may not mention to the REALTOR may alter the value either up or down, and ultimately not seeing the property does not allow us to give you the best Market Value Evaluation. If you would like an instant price estimate look in your mail for a local & Licensed REALTOR who advertises over the phone market evaluations and call them. I however caution you that you would do yourself far better service to contact a reputable Licensed REALTOR and invite them to your home. Good Luck and have a great day.

I’ve been in the business for a time and never do estimates from my desk or home office. Sorry, I’m not Magician and a house can be from zero to a hero, I mean unpredictable on unseen. In essence, I do not offer “no service kind of service”. There is none in the world who can guess what your house is like, how much you have spent in upgrades over the home ownership period in comparison to your neighbour who still has green shag carpets from 1969 and war torn hardwood from dog nails etc. When you pay nothing, you generally get nothing. I will not sign an estimate if I do not have all the facts considered and reviewed personally.

If you do want a quick and very rough estimate of the value of your home, I would look to your assessed value for property tax purposes, the report you get every year from MPAC report. It will likely give you an idea if your property is worth $300,000 or $3 million. But if you want more insight then call a reputable realtor for a proper comparative market analysis (CMA). This analysis CMA will give you a better idea what your property would actually sell for in the current market conditions.

Many factors come into play for CMA – what is the overall real estate market like, what is the market like for your specific property, what condition is your property in and how does your property compare to similar homes currently listed right now, so it is called comparables. For example, if your neighbor with a fairly similar property accepts a low ball offer because he already bought the new home and he is anxious to sell this old one that is unfortunately going to affect the market value of your property. Most importantly this estimate is likely to be a range rather than a single number, like the estimate of price could be “from $410k to $430k”. Some properties are difficult to put an accurate price on and the sales price obtained could be within a large range. Other properties are in an area with many similar properties that have sold recently and are a little easier to put a price on within a fairly tight range agreeable to seller.

I spend a considerable amount of time on each comparative market evaluation that I do and I think my clients would agree that I provide useful information that would be difficult to obtain automatically or instantly. I think in this situation the phrase “If it is worth doing, it is worth doing right” is so true. I always research properties on-line and off-line before I actually visit the property to do a market evaluation. It is getting easier to find information online but there really is no substitute for seeing a property, its setting and comparable properties in person.

Hopefully the ‘instant’ Market Evaluation that you seek will not be used to determine the price to list your home. You can probably get one or two evaluations at no expense to you anyway from your local real estate brokerages. It may not be instant, but it will be customized for your unique home and not just made up ones & instead of based on last year’s statistics for all homes in the city.

I am sure you will agree with the personal talk we had thru this article, if you like to have your property evaluated you can contact me directly on cell and arrange appointment or contact me online to set an appointment of your property.

Email: vg_remax(AT)yahoo.ca , Direct: 647.267.6338, web: www.vijaygandhi.com

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Experienced and Savvy Investors Buy in December to March Winter Months

10 Saturday Dec 2011

Posted by gtarealtyagent in BANK SALE P.O.S. - TAX SALE, Business, condo assignment investments, Condos, current real estate affaiirs, Development, FAMILYLAW & REAL ESTATE, FSBO, Green Investment, H.S.T., Home Reno (adds The Value), Houses, Interest Rates, International, Leasing/Renting, Let's Talk Investing, Listing of the Day, Mortgage, Multiplex-Multi Residetial Investment, Neighbourhoods, New Canadian Immigrants, New Development/Week, Opinion, POWER OF SALE-FORECLOSURE PROPERTY, Pre-Construction, Re/Max, Real Estate info & ideas, Rental, Search, Stories!, Toronto Politics, TREB/OREA/CREA, Uncategorized, Unemployment, Videos-Pictures, VIP Condo

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Investors Buy in December to March Winter Months


Experienced and Savvy Investors Buy in December to March Winter Months

Why do a Large Number of Experienced and Savvy Investors Buy in December to March Winter Months?

For a few personal reasons, some people have no time limit (expiration of apartment lease, etc.)and so they really wait until they find something they love to do before purchasing like marrying, which can come at any time, including the snowy winter months as well.

Also, if a property has not sold over the busier season (spring and summer), owners as well as realtors tend to drop the asking price a little to attract more investors to the property. So sometimes, you can get a better deal on a property in the winter months as opposed to the months where the most investors are searching the housing market. Investors think that there is a possibility of better deal to be had….but, many times it is not so….you need right investor agent who can navigate thru this surfing and searching.
There is one good reason is that there are fewer sales and fewer investors in these months so some investors see that as a great time to get a deal. Some houses do not show up in the realtor search as it is in the batches on system for group of years like under 5yrs, under 10 years & so on, so those comes up as soon as the new year starts, also the possible search criteria also changed altogether.

If a seller has placed a conditional offer on a new home and theirs is still not sold by the winter, you may also have an easier time negotiating as they have deadlines to sell their home, so the Investor have an opportunity.

Each selling and purchasing decision is based on a variety of different motives. It’s often case by case and so does just like credit ratings its all depends on individuals.

Don’t be fooled though, some of the statistics I have seen have shown that December is also a good time to sell, and recent years you can verify mls.ca stats, winter months are not bad producing months as well, Because fewer inventories on the market mean less competition, and if investor is in need and do not want to wait despite realtor try to wait for new match property comes up in market. Sometimes good houses do not sell because the competition is fierce and even though they may be priced and war of price so hot, to-gather competitively, they fail to sell because if excess inventory levels. Over major portion of the houses listed in GTA last year in December sold. This made it the number: one month to sell if you want to have an edge on the market inventory if you think and plan properly and willing to take risk with good experience agent and with lots of ice over the head.

Some of my clients save up and buy this time of year. Most investors do not want to be bothered over the Christmas season but investors know that offers at this time of year are scarce at best. This is the time of year when those of us agents that represent investor investors are the busiest. Feel free to contact me if you wish to explore the investor market, there are a lot of great deals out there right now that my clients are snapping up! Would you like to wait or go depends on your choice.

Another good reason is that in winter months only serious sellers remain in the market just like serious investors and price the property accordingly well to sell and ready to make a deal before spring market competition starts. Negotiations take place well when both parties are motivated. An experienced Realtor can get you a great deal in winter.

Always hire the proper agent: www.vijaygandhi.com and save you a lot…

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Scarborough RT to close between 2015 and 2019 | Scarborough TTC riders will be stuck with buses for 4 yrs.

07 Wednesday Dec 2011

Posted by gtarealtyagent in condo assignment investments, Condos, current real estate affaiirs, Development, Let's Talk Investing, New Development/Week, Opinion, Pre-Construction, Real Estate info & ideas, Stories!, Toronto Politics

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rapid transit, Scarborough RT, SRT, stc, TTC


Scarborough RT to close between 2015 and 2019 | Scarborough TTC riders will be stuck with buses for 4 yrs.

TTC ridership in parts of Scarborough is expected to plummet after the 2015 Pan American Games as the obsolete rapid-transit line is shut down for four years of construction, warns general manager Gary Webster.

Dozens of extra buses will be added to the route between Kennedy Station and Scarborough Town Centre while the updated light rail system is built, but Webster thinks people are likely to return to their cars until the LRT opens in 2019.

“We’re going to drive people away from transit, there’s no question,” he said, noting that a parallel bus service that’s operated for years alongside the SRT has never been embraced by riders.

Meanwhile, Webster said the full length of the Eglinton-Scarborough Crosstown LRT won’t be done until 2022, although Metrolinx maintains it can be finished by 2020 and is considering a public-private partnership to speed things up.

To any constituents who are angry they’ll be stuck with buses during that time, local Councillor Chin Lee says: Be careful what you vote for.

Lee said he had an understanding with former TTC chair Adam Giambrone that the planned Sheppard LRT should be complete before the SRT — which is on its last legs — was torn down.

“He agreed with me on that,” said Lee. “Unfortunately, the subway advocates were a very vocal group and the mayor listened to them.”

The Transit City plan, which included a Sheppard LRT linking with the SRT at its northern end, was cancelled in favour of the mayor’s subway vision. And the Eglinton light rail plan, connecting seamlessly at the southern end, was moved underground, which takes significantly longer to build.

“Just be careful what you ask for and think of all the implications, not only just the short term,” Lee said.

As he finished speaking to reporters, the mayor’s brother, Councillor Doug Ford, said: “I totally disagree with those comments, 100 per cent,” before returning to the budget committee meeting.

The SRT, with its cars resembling a mini subway train, opened in 1985 to much fanfare. Today, it moves up to 5,000 riders an hour at peak periods.

The TTC will put between 20 and 30 extra buses on the road to accommodate the closure, but it’s likely to take significantly longer to get from point A to point B on a bus.

Left-wing Councillor Gord Perks said the mayor has let down the people who elected him. “Scarborough voted for a transportation plan that was supposed to get them more. Now they’re finding out they’re going to get dramatically less,” he said.

source: http://www.metronews.ca/toronto/local/article/1043474–srt-to-close-between-2015-and-2019

comment
gtarealtyagent |6:23 PM | Dec 07, 2011

@ STC lots of condo get built as the commuter get way out from there to DT toronto, can you imagine…………no SRT means to them?, please discuss… Alert a moderator

please leave your concerns and comments here:

 

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westwood condos | condo in etobicoke | coming soon to Etobicoke | Alterra Homes |Finer Space Developments

21 Wednesday Sep 2011

Posted by gtarealtyagent in BANK SALE P.O.S. - TAX SALE, condo assignment investments, Condos, current real estate affaiirs, Interest Rates, Let's Talk Investing, Mortgage, Opinion, Pre-Construction, Real Estate info & ideas

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Alterra Homes, coming soon to Etobicoke, condo in etobicoke, Finer Space Developments, westwood condos


 

westwood condos | condo in etobicoke | coming soon to Etobicoke | Alterra Homes |Finer Space Developments

 

westwood condos | condo in etobicoke | coming soon to Etobicoke | Alterra Homes |Finer Space Developments


http://www.vijaygandhi.com/westwood%20condos

Click Here to Register Here to Chance to get your choice of
suite at before the opening to public

VIP Booking form follows

Price list / floor plan Available when registered with us

 

 

newhomeandcondo

newhomeandcondo

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Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338
(Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002
(page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com www.gtarealtyagent.com www.icxforsale.com

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South Unionville Square is a new condo project by Mady Development Corporation- Book Here your unit

11 Sunday Sep 2011

Posted by gtarealtyagent in BANK SALE P.O.S. - TAX SALE, Condos, Interest Rates, Let's Talk Investing, Multiplex-Multi Residetial Investment, POWER OF SALE-FORECLOSURE PROPERTY, Pre-Construction, Real Estate info & ideas

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South Unionville Square is a new condo project by Mady Development Corporation- Book Here your unit


South Unionville Square is a new condo project by Mady Development Corporation- Book Here your unit

September 11, 2011 by resalehomeandcondo

South Unionville Square is a new condo project by Mady Development Corporation currently under construction at 8323 Kennedy Road in Markham. The project is scheduled for completion in 2012. Available condos range in price from $190,000 to $377,000. The project has a total of 253 units.

 


DEVELOPMENT NAME : South Unionville Square
DEVELOPER(S) : Mady Development Corporation
PROJECT TYPE : Condominium
ADDRESS : 8323 Kennedy Road
NEIGHBOURHOOD/CITY : Markham
STATE/PROVINCE : Ontario
PROJECT WEBSITE : http://www.southunionvillesquare.com
E-MAIL : nancyhui@tradeworldrealty.com
SALES CENTRE HOURS : Saturday – Thursday: 12pm to 6pm
CONSTRUCTION STATUS : Construction
ESTIMATED COMPLETION : 2012
SELLING STATUS : Selling
TOTAL NUMBER OF UNITS : 253 units
NUMBER OF STOREYS : 12 storeys
UNIT SIZES : From 520 to 920 Square Feet
CEILING HEIGHTS : From 9’0″ to 10’0″ Feet
SALES COMPANY : Tradeworld Realty Inc., Brokerage
ARCHITECT(S) : Turner Fleischer Architects Inc.
INTERIOR DESIGNER(S) : Gordana Car Interior Design Studio

 

PRICES(AVAILABLE UNITS) : From $190,000 To $377,000
MONTHLY MAINTENANCE : $0.42 Per Square Foot Per Month

 

SIGN UP NOW FOR ACCESS and PRICELIST for BOOKING!!!

 

The Residences Floor Plans
One Bedroom

  • Lily, 1 Bedroom, 622 sq.ft.
  • Tulip, 1 Bedroom, 578 sq.ft.
  • Iris, 1 Bedroom, 671 sq.ft.
  • Jasmine, 1 Bedroom, 648 sq.ft.
  • Pansy, 1 Bedroom, 615 sq.ft.
  • Daisy, 1 Bedroom, 664 sq.ft.

Two Bedroom

  • Bamboo, 2 Bedroom + Terrace, 1,072 sq.ft.
  • Crocus, 2 Bedroom, 810 sq.ft.
One Bedroom + Den

  • Gardenia, 1 Bedroom + Den, 650 sq.ft.
  • Violet, 1 Bedroom + Den, 699 sq.ft.
  • Buttercup, 1 Bedroom + Den, 710 sq.ft.
  • Marigold, 1 Bedroom + Den, 767 sq.ft.
  • Magnolia, 1 Bedroom + Den, 778 sq.ft.
  • Golden Rod, 1 Bedroom + Den, 706 sq.ft.
  • Mimosa, 1 Bedroom + Den, 752 sq.ft.
  • Poppy, 1 Bedroom + Den, 765 sq.ft.

for booking and registration contact thru:

http://www.vijaygandhi.com/index.php?p=258

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Bellaria Residences, Tower 4, Booking started, Vip Broker Event on Sep 6, Dont Miss it !!

01 Thursday Sep 2011

Posted by gtarealtyagent in condo assignment investments, Condos, current real estate affaiirs, Development, Let's Talk Investing, Multiplex-Multi Residetial Investment, Pre-Construction, Real Estate info & ideas

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Bellaria Residences, Booking started, Dont Miss it !!, Tower 4, Vip Broker Event on Sep 6


Bellaria Residences, Tower 4, Booking started, Vip Broker Event on Sep 6, Dont Miss it !!

September 1, 2011 by resalehomeandcondo

NEW: download the information package containing the Price List, Bellaria-floorplans and Bellaria-Worksheet-for site

Best Location to live or invest in Vaughan, Ont
Major Mackanzie and Jane and Rutherford block


LAUNCHING ON Sep 06, 2011

Please e-mail the completed worksheet to vg_remax@yahoo.ca  or
Fax it directly to the builder at: 905 471 7441

***The Sales are now Open to VIP agents ONLY!***

Register Online now to receive more information and an opportunity to preview and purchase before we launch to the general public.
Contact one of our Real Estate Sales Representative Vijay Gandhi  if you have any questions.

Bellaria-Worksheet-for site

Bellaria-floorplans AND PRICELIST CALL NOW OR

REGISTER YOURSELF AND GET VIP DISCOUNTS.

By registering with us you will have Access to Prices and Floor Plans, Also you will be informed for upcoming new projects.

www.vijaygandhi.com | www.gtarealtyagent.com | www.condosupermarket.com

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Berczy Square – Phase 3 – Grand Opening New Phase of 3 and 4 Bedroom Detached Homes are coming and we are registering it

31 Wednesday Aug 2011

Posted by gtarealtyagent in Let's Talk Investing, New Development/Week, Pre-Construction, Real Estate info & ideas

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Berczy Square – Phase 3 – Grand Opening

New Phase of 3 & 4 Bedroom Detached Homes are coming and we are registering it as form below towards the chance and opportunity to become new home owner soon and desired unit in the project..

it takes a very little time and + we guide you the process of home buying for no charge/fees to you…

simply register with us form below or e mail us vgandhi@remax.net or call direct (best option) and leave your details : full name, full address, phone numbers(day and evening)
and just email address to send more info. about the project updates….goodluck.


we do not represent builder directly

related links:

  • http://www.markham.ca/markham/ccbs/indexfile/Agendas/2010/Development%20Services/pl100608/Upper%20Unionville.pdf
  • http://en.wikipedia.org/wiki/Berczy_Village,_Ontario

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Home Inspection – Dont’ Forget When You Buy Home

05 Friday Aug 2011

Posted by gtarealtyagent in Home Reno (adds The Value), Let's Talk Investing, POWER OF SALE-FORECLOSURE PROPERTY, Pre-Construction, Real Estate info & ideas

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Home Inspections

When you purchase a home, it’s often recommended that you have a home inspection done. In fact, a typical Agreement to Purchase Form will include a standard preprinted clause with respect to home inspections. This is one of the most common conditions in an offer to purchase a property. When real estate markets are extremely active and you really want a particular home, skipping the home inspection and not placing this kind of condition in an offer can be tempting. Before you make the decision, consider the benefits of a home inspection.

If there is a Seller Property Information Statement (SPIS), you may receive a copy and have a general sense of comfort about the history of the property. However, you should keep in mind that the person selling the home may not be aware of property defects and that the information provided in the SPIS is based only on their personal knowledge.

Similarly, the broker or salesperson representing you in the transaction may have the experience to identify visually obvious defects, but underlying problems can exist.

A qualified and experienced home inspector will examine the major systems in the home such as:

  • Electrical
  • Roofing
  • Plumbing
  • Heating/Air Conditioning
  • Foundation
  • Septic Systems

Many home inspection companies encourage you to attend the inspection and ask the inspector questions during the process and about the results of the inspection. The decision is yours to make, but you will be better informed and able to assess whether or not you want to invest in any upgrades or repairs that might be needed

For information about home inspectors and home inspection services you can speak to your real estate broker or salesperson or refer to the Canadian Association of Home & Property Inspectors website or the Ontario Association of Home Inspectors website.

SEPTIC SYSTEM INSPECTIONS

Ontario’s Ministry of the Environment recommends that home buyers have a septic system inspected prior to finalizing a sale on a property. This condition may also be requested by your financial institution. A time of sale inspection may help protect you against future unexpected costs. The inspection process might involve pumping the tank and examining the leaching bed for any signs of problems. A septic system inspection may be conducted by a licensed septic system installer, a licensed sewage hauler or a professional engineer.

Your Septic System:  Protecting your Investment and the Environment

For more information, visit the Ontario Ministry of the Environment’s Clean Water website.

 

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Condos as an Investment Opportunity – Review

09 Thursday Jun 2011

Posted by gtarealtyagent in Business, condo assignment investments, Condos, current real estate affaiirs, Development, Green Investment, International, Leasing/Renting, Let's Talk Investing, Pre-Construction, Real Estate info & ideas

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Condos as an Investment


Condos as an investment

Toronto is currently the dominant North American condo market, with more than 18,000 units being sold annually over the past five years, according to findings by Urbanation, the Toronto-based condominium market research firm, and a great number of the buyers have no intention of living in them.

The study found that “With many downtown condominium projects selling more than 70 per cent of their units to investors, developers need to keep a keen eye on index price movement and rental transaction activity.”

A number of factors are behind the explosive growth of condos in the GTA. First and foremost is an influx of foreign buyers: Offshore investors are buying up Toronto condos sight unseen for the purpose of investment.

So is the Toronto condo rental market saturated? It depends who you talk to.

“The Toronto real estate market continues to exhibit strength in the demand for new condominiums, particularly as investment properties for those with new money. This trend indicates that any suggestion of a developing ‘condo bubble’ represents ongoing conjecture, rather than market reality.”

And a Canada Mortage and Housing Corporation  study from the fall of 2010 found that “The average vacancy rate for purpose-built apartment buildings in the GTA declined to 2.1 per cent in October 2010 from 3.1 per cent in October 2009. The average rent for two-bedroom apartments common to last year’s survey increased by 1.8 per cent.”

All that may change this year as a result of the pervasive condo construction in Toronto. According to CMHC statistics, “A surge of nearly 8,000 condominium apartments were completed in the June to September 2010 period. These new units likely worked to push vacancies higher.” And as of last June, “there were over 34,000 units near completion in the GTA.”

With 20 per cent of the GTA condo market being rental, what happens when all these units hit the street this year? The quandary for investors is that rental rates are not rising relative to the increasing prices and costs paid by investors, and Toronto’s rents are much lower than comparative global cities.

Rental Transactions Up 18 Per Cent

A study by Adrienne Warren published by the Scotiabank Group in March, is optimistic that Canada’s residential activity will remain buoyant, but rentals may go soft. “It is also highly unlikely that Canada will experience a U.S.-style housing collapse. The roughly 25 per cent correction in U.S. home prices from their 2006 peak was primarily the result of weak lending practices and high-risk mortgage products largely absent in Canada,” says Warren.

“Canada’s average rental apartment vacancy rate in major urban centres edged down slightly last year to 2.6 per cent, and has remained historically low throughout the past decade. Vacancy rates for rented condominium apartments are low, at 2.0 per cent or less in six of the 10 CMAs surveyed by CMHC.
related links:
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2011/2011-06-09-0815.cfm
http://torontorealestateboard.com/consumer_info/market_news/rental_report/2011/rental_report_01-04_11.pdf

F or the January to April 2011 period, TREB Members reported 5,079 lease transactions

for condominium apartments and townhomes. This result was up 18 per cent from 4,319 lease

transactions reported during the same time-period in 2010. The number of rental units listed on the TorontoMLS® rose 10 per cent to 9,374 units. The increase in listings reflects the high level of condominium apartment completions over the past year. Some investors chose to lease their units upon completion.

With the number of transactions rising at a greater rate than the number of units available for rent, rental, market conditions tightened. Average rental rates were up in comparison to last year. One-bedroom apartments rented for an average of $1,485 per month, up 1.5 per cent year-over-year. Two-bedroom apartment units rented for an average of $1,958 per month – up 2.5 per cent compared to the first four months of 2010.

for condo investment contact or visit me @ www.condosupermarket.com

Vijay Gandhi is an Re/max Real Estate Sales Rep. &  independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:

vijaygandhi.com  www.gtarealtyagent.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate!
*condition apply/sub. to availability

Vijay Gandhi,
Sales Representative- REALTOR®

RE/MAX Dynasty Realty Inc. Brokerage*

&

Mortgage Agent – Lic.# M10001947
CENTUM Metrocap Mortgage Corp. Lic.#11074

C: 647-267-6338 (Direct-Leave message or text)
O: 416.335.4335 | 905.471.0002 (page me-Have me)
F: 905.471.7441
E-MAIL: vtgandhi@yahoo.com , vgandhi@remax.net
WEB:  www.vijaygandhi.com , www.icxforsale.com
BLOG: https://gtarealtyagent.wordpress.com/
“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR® FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

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Monthly Real Estate and Mortgage Stats Report

06 Wednesday Apr 2011

Posted by gtarealtyagent in BANK SALE P.O.S. - TAX SALE, Business, condo assignment investments, Condos, current real estate affaiirs, Development, FAMILYLAW & REAL ESTATE, FSBO, Green Investment, H.S.T., Home Reno (adds The Value), Houses, Interest Rates, International, Leasing/Renting, Let's Talk Investing, Listing of the Day, Mortgage, Multiplex-Multi Residetial Investment, Neighbourhoods, New Development/Week, Opinion, POWER OF SALE-FORECLOSURE PROPERTY, Pre-Construction, Re/Max, Real Estate info & ideas, TREB/OREA/CREA, VIP Condo

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Monthly Real Estate and Mortgage Stats Report


Bank of Canada Interest Rate

January 18, 2011
1.00 %
March 1, 2011
1.00 %
April 12, 2011
Next meeting date

Source: Bank of Canada


Bank Prime Lending Rate

January 19, 2011
3.00 %
March 2, 2011
3.00 %
April 13, 2011
Next meeting date

Source: Bank of Canada

Conventional Mortgage – 5 Year Rate*

February 9, 2011
5.44 %
February 23, 2011
5.44 %
March 28, 2011
5.34 %

Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate


US Federal Reserve Board Discount Rate

January 26, 2011
0.00 % – 0.25 %
March 15, 2011
0.00 % – 0.25 %
April 27, 2011
Next meeting date

Source: US Federal Reserve


Exchange Rate $CDN($US)

February 23, 2011
1.0115
March 16, 2011
1.0083
March 31, 2011
1.0314

Source: Bank of Canada


Government of Canada Bonds

Bond Type February 23, 2011 March 16, 2011 March 30, 2011
1 year Treasury Bill
1.36 % 1.24 % 1.35 %
3 year Benchmark
Bond Yield
2.15 % 1.87 % 2.13 %
5 year Benchmark
Bond Yield
2.61 % 2.44 % 2.71 %
10 year Benchmark
Bond Yield
3.32 % 3.13 % 3.29 %

Source: Bank of Canada


Total New Housing Starts (Seasonally adjusted and annualized)

Province December
2010
December
2009
January
2011
January
2010
February
2011
February
2010
Newfoundland/Labrador
3,200
4,200
3,900
3,600
2,700
3,600
PEI
1,100
1,300
800
600
500
400
Nova Scotia
2,700
2,900
4,500
2,800
3,800
5,400
New Brunswick
3,100
3,600
3,500
5,200
1,800
2,400
Quebec
47,800
51,600
48,600
55,100
44,600
47,800
Ontario
46,400
56,300
51,500
55,500
65,800
70,100
Manitoba
6,500
3,400
3,900
5,100
4,700
4,900
Saskatchewan
7,500
4,500
6,200
6,400
8,800
4,600
Alberta
21,000
27,800
19,600
23,500
21,900
27,300
British Columbia
30,000
22,200
28,100
27,600
27,300
30,100
CANADA
169,300
177,800
170,600
185,400
181,900
196,600

Source: CMHC Housing Now – March 2011 and March 2010. This seasonally adjusted data goes through stages of revision at different times of the year.


Average MLS® Resale Price for Local Markets

City February 2011 February 2010
Halifax
$ 261,638
$ 251,072
Saint John
$ 175,371
$ 168,735
Quebec
$ 244,326
$ 227,461
Montreal
$ 300,471
$ 287,151
Ottawa
$ 337,797
$ 318,894
Toronto
$ 454,470
$ 431,509
Hamilton/Burlington
$ 331,741
$ 314,656
Winnipeg
$ 228,180
$ 215,230
Saskatoon
$ 287,202
$ 291,054
Regina
$ 272,609
$ 263,753
Calgary
$ 400,879
$ 389,388
Edmonton
$ 311,674
$ 316,927
Vancouver
$ 791,604
$ 662,741
Victoria
$ 490,970
$ 481,246


April Stats Chart 1
Source: CREA

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Vijay Gandhi is an Re/max Real Estate Sales Rep. &  independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.

 


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