Experienced and Savvy Investors Buy in December to March Winter Months

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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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Monthly Real Estate and Mortgage Stats Report

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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

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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CREA revises annual resale housing forecast

The Canadian Real Estate Association (CREA) has lowered its forecast for home sales activity via the Multiple Listing Service (MLS) Systems of Canadian real estate Boards and Associations for 2010 and 2011.

Sales activity in the third quarter of 2010 began on a weak footing, but gained traction as the quarter progressed. Improving momentum for home sales activity suggests the resale housing market is stabilizing, but weaker than expected third quarter activity has reduced CREA’s annual forecast.

National sales activity is now expected to reach 442,200 units in 2010, representing an annual decline of 4.9 per cent. While monthly levels for sales activity are stabilizing, year-over-year comparisons are likely to remain stretched well into 2011 due to the record-level activity reported in late 2009 and early 2010.

Lackluster economic and job growth, muted consumer confidence, and the resumption of interest rate increases are expected in 2011. Against this economic backdrop, national home sales activity is forecast to decline by nine per cent to 402,500 units.

“Interest rates are expected to resume their return to more normal levels next year, but will still be at levels that are friendly to the housing market,” said Georges Pahud, CREA’s President

The national average home price is forecast to rise 3.1 per cent in 2010 to $330,200, with increases in all provinces. The small revision to CREA’s average price forecast reflects changes to the forecast for provincial sales activity and corresponding provincial contributions to the national average price calculation. The balance between supply and demand is forecast to remain stable, resulting in stable price trends.

Modest average price gains are forecast in 2011 in all provinces except British Columbia, Alberta, and Ontario. Lower sales activity in British Columbia and Ontario are expected to result in a 1.3 per cent decline in the national average price to $326,000.

“Housing demand and supply is stabilizing,” said Gregory Klump, CREA’s Chief Economist. “That’s good news for home buyers, who will feel less hurried to make an offer than they did when transitory factors ignited housing demand in early 2010. It’s also good news for home sellers, who will feel more confident about price stability now that the housing market has become balanced.”

“Interest rates are widely expected to remain low for some time due to recent downward revisions by the Bank of Canada to its outlooks for economic growth and inflation. Consumer sentiment will likely remain under pressure until economic prospects improve meaningfully,” said Klump.

“In the meantime, many households will be focused on paying down their debts before the Bank of Canada resumes hiking interest rates next year,” Klump added. “Economic uncertainty is likely to keep potential homebuyers in a cautious mood, so the continuation of low and stable interest rates is unlikely to cause housing demand or prices to swell.”

Canada’s household debt risks are being mitigated

Canada’s household debt risks are being mitigated says Scotia Economics report

After witnessing the experiences of other countries during the global credit crisis, and living through the painful deleveraging here in the 1990s, Canadians are very cognizant of the dangers of excessive debt leverage, according to a special report released today by Scotia Economics, entitled Canada’s Balance Sheet & Economic Advantages Mitigate Household Debt Risks.

“There is understandable concern about the rapid rise in borrowing, and the buoyant housing market in particular, that has pushed Canadian household debt leverage to new records,” said Warren Jestin, Chief Economist, Scotiabank. ‘However, our analysis suggests that the odds that current household debt leverage will trigger a full-blown relapse – either in the housing market, or more generally in the economy – are relatively low.”
According to Mr. Jestin, “today’s situation is much different than the early 1990s when corporate, household and government balance sheets were simultaneously imperiled and monetary policy was much more restrictive. Canada entered the recent downturn with close to two decades of government fiscal repair, strong corporate balance sheets, and a world-class banking sector.” He goes on to say, “even with the continuation of low borrowing costs, existing debt burdens coupled with reduced employment gains point to a cooling of consumer spending and housing activity in the year ahead.”

The report also notes that the structural features of Canada’s financial sector – and, more specifically, its mortgage market – operate as a last line of defense behind Canada’s other advantages.

Buyers market? Some first-timers agree..

Buyers market? Some first-timers agree says RBC poll

 

Almost half of first-time homeowners in Canada say it’s now a buyers market, pointing to a pick up in activity in coming months, according to an online survey conducted by RBC.

About 46 per cent of buyers who purchased a home in the past two years say it’s a buyers market, while 43 per cent of those who intend to buy for the first time said the same.

“That could be an indicator that there is higher home buying activity to come and rates do remain near historical lows,” said Marcia Moffat, RBC vice president of home equity financing Canadian banking, RBC

The property market, which bounced back to record levels in the first half of the year on the back of record low interest rates, has cooled off sharply in recent months. A combination of rising interest rates, the harmonized sales tax in British Columbia and Ontario, and new mortgage regulations all helped take some steam out of the market.

RBC expects prices to rise about eightper cent this year, with gains coming mainly from the first half, before slowing to about 1.4 per cent next year, Chief Economist Craig Wright said.

The RBC poll found 85 per cent of first-time buyers considered buying a home a long-term purchase with only 15 per cent planning to sell in the next two years. As well, 93 per cent plan to buy for their own use and not for investment purposes.

“Most first-time buyers are not planning to buy and flip, that’s good news,” Moffatt said, adding it indicated there was little speculation in the market.

When it comes to financing choices, the research showed the first-time buyer opted for certainty with 59 per cent choosing a fixed rate mortgage. Of those planning to buy in the next two years that figure came down to 49 per cent.

A combination of the two mortgage options, part-fixed rate and part variable, is gaining popularity with 31 per cent of future buyers saying that would be their choice, compared with just seven per cent of those who bought in the past two years.

source:http://www.mortgagebrokernews.ca/news/buyers-market-some-first-timers-agree-says-rbc-poll/75606

CMHC says Toronto housing market to remain balanced in 2011

Toronto’s housing market will remain stable next year as sales and prices gradually increase from current levels and housing starts hold steady, stated Shaun Hildebrand, CMHC’s senior market analyst for the GTA at the annual CMHC Toronto Housing Outlook Conference held Nov. 3.

“Year-over-year comparisons to 2010 will mask an underlying growth trend that will gain momentum in the second half of next year. The worst of the correction from the run-up in activity in late 2009 and early 2010 is already behind us. Moving forward, homeownership demand will be supported by an improving labour market, a continuation of low borrowing costs and a quickly rising population,” said Hildebrand.

While total sales and housing starts recorded for 2011 will be slightly lower in comparison to 2010, opportunities for growth will continue to present themselves next year, according to CMHC.

Highlights of the conference included:

• Housing starts in the GTA will remain virtually unchanged in 2011. A decline in construction of single-detached homes will be offset by an increase in high-rise starts.
• MLS sales will remain below peaks reached in 2009 and 2007 due to less demand from first-time buyers. Move-up and downsizing households are expected to represent a larger share of purchases in the existing home market.
• The resale market will remain in balance, with prices rising at around the rate of inflation throughout the year. Expect less price pressures in the condo market as more units are completed and listed for sale.

“While Ontario homes sales and prices have moderated since early this year, Ontario housing activity is now more in line with economic conditions. This ensures more stability in housing markets in the months ahead,” said Ted Tsiakopoulos, CMHC’s Ontario regional economist. “This transition in housing activity has been orderly thanks to improving job markets and historically low interest rates.”

GTA sales down in October reports Toronto Real Estate Board

Greater Toronto Realtors reported 6,681 sales through the Multiple Listing Service(R) (MLS(R)) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one per cent compared to the January through October period in 2009.

“The annual change in sales and average selling prices has been quite uniform across the GTA and by property type as the market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010,” said Toronto Real Estate Board (TREB) President Bill Johnston.

“The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent of sales in TREB’s central districts,” Johnston continued. “In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions.”

The average price for October transactions was $443,729 – up five per cent compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802.

“The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home.”

“The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household,” continued Mercer.

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FSBO-Innovation drives small business success

FSBO Listings: Innovation drives small business success

The experts agree small and medium-sized enterprises need to invest in innovation to stay competitive.

“It’s essential in today’s world, and that’s regardless of industry,”

“You want to make sure that you stand out in terms of your key competitive advantages in relation to your other competitors in the market.”

Innovation, is “the introduction of something new. It can occur in the way companies are structured, in the products and services they offer, and in the way they develop, produce, market and deliver those products and services.”

when it comes to small and medium-sized businesses, which make up 97.5% of all Canadian companies, innovation is continuous and incremental.

____________________________________________________
next interest rate bank of Canada monetary policy meeting on DEC 07,2010
____________________________________________________

Aside from being able to stay competitive in the market, innovation in small and medium-sized businesses is crucial to economic development of Communities of Tomorrow.

“Innovation helps companies grow and expand, and when small businesses grow and expand, it has a significant impact on the economy through job creation [and] new tax revenues for government,”

“But one of the things that folks also don’t realize is that as companies grow, they also need to buy services from other companies in the province, or in the region, or in that particular city where they do business. Not only does their business grow, but it helps others around them grow and develop.”

That’s why we come up with innovation of FSBO listing at www.vijaygandhi.com

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(The comments contained on this site are for information purposes only and do not constitute legal advice.)

If you have any questions/suggestion or require more information, please do not hesitate to contact me and I will be happy to assist you.

Vijay Gandhi,
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
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W:  www.vijaygandhi.com , www.centum.ca/vijay_gandhi

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

Competition Bureau Reaches Agreement in Principle in Real Estate Case

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Competition Bureau Reaches Agreement, Principle, Real Estate

OTTAWA, September 30, 2010 — The Competition Bureau announced today that it has reached an agreement in principle with the Canadian Real Estate Association (CREA), which, if ratified by CREA‘s members, will ensure that real estate agents have the flexibility to provide innovative service and pricing options to customers.

“This agreement is welcome news for Canadians”, said Melanie Aitken, Commissioner of Competition. “If ratified, the agreement will ensure that consumers have the ability to choose which services they want from a real estate agent when selling their home, and to pay for only those services. It also provides much-needed flexibility for real estate agents by ensuring that they have the ability to offer the variety of services and prices that meet the needs of consumers.”

In February, the Commissioner of Competition challenged, before the Competition Tribunal, anti-competitive rules imposed by CREA on real estate agents who list residential properties using the Multiple Listing Service (MLS) system. The Bureau launched its challenge after three years of discussions and several months of intensive negotiations with CREA. The Bureau agreed to resume negotiations in September after being approached by CREA‘s representatives.

Under the agreement, CREA will eliminate its ability to adopt anti-competitive rules that discriminate against real estate agents who are hired by consumers only to list or merely “post” a residential property on the MLS.

“Since challenging CREA‘s rules, the Bureau’s goal has always been to achieve a long-term solution that would strengthen competition in the residential real estate brokerage services market,” added Commissioner Aitken, “This resolution, if ratified by CREA‘s membership, achieves this goal.”

After the agreement is ratified, a copy of the legally binding consent agreement will be posted on the Competition Tribunal Web site. The agreement will remain in force for 10 years.

The Competition Bureau is an independent law enforcement agency that contributes to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice.

source: http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03293.html

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Online mortgage calculators are helpful in planning for a home purchase. For more information on CENTUM broker negotiated rates, visit Centum.ca for a referral to your nearest broker.

For property in Ontario, GTA, Toronto, please visit me/email me on

Web@ www.vijaygandhi.com, mail@ vgandhi@remax.net

Thanks for visiting blog; it’s always updated with new info.

WE ARE GOING TO KEEP POSTING NEW ARTICLES RELATED TO VALUE YOUR INVESTMENT SERIES, YOU CAN SUBSCRIBE IN ORDER TO STAY CONNECTED, THANK YOU FOR BEING PART OF NETWORK.

(The comments contained on this site are for information purposes only and do not constitute legal advice.)

If you have any questions/suggestion or require more information, please do not hesitate to contact me and I will be happy to assist you.

Vijay Gandhi,
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.centum.ca/vijay_gandhi

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

What can you do to protect yourself from title fraud?

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title fraud, title insurance

What can you do to protect yourself  from title fraud?  

It’s a tell-tale sign of title fraud if you suddenly stop receiving your tax bill, or utility bills. This might be the first sign to a homeowner that something is wrong. A lawyer, mortgage broker, or another person in the real estate industry, may be involved in the fraud, or may have unknowingly participated in the scheme. 

Properties which are targeted for title fraud are, typically, owned by a single person rather than a couple, are mortgage free, are situated in higher-value neighbourhoods, and may be rented out to tenants.

Title fraud is a kind of identity theft. A fraudster will forge a homeowner’s identity, providing forged financial information and personal identification to a lender or mortgage broker, and retain a lawyer to register a new mortgage on the property. Once the new mortgage is registered, the fraudster walks away with the mortgage proceeds and the unsuspecting homeowner is left with the mortgage debt to pay off.  

Restoring title to your property is no easy matter, and involves considerable legal fees and other costs. In the case of an improperly registered mortgage, the victim must prove that they were the victim of a fraud.  

__________________________________________________________________ 

You can find the Residential/Commercial/multiplexes/investment listings on webs sites as under

 www.vijaygandhi.com
 www.icxforsale.com

Learn more:
The next Bank of Canada interest rate meeting is September 8 ,2010.
____________________________________________________________

Some of the contributing factors to title fraud include widespread competition in the mortgage industry, combined with pressure to close deals quickly.  Mortgage fraud is easier to perpetuate than in the past because of technological advances and the fact that, in some cases at least, neither brokers nor lawyers know their clients particularly well.

Because of the increase in claims related to fraud, title insurance companies have become more vigilant in flagging deals that appear suspect. If someone is putting on a new mortgage on a property and retaining all the cash from the mortgage advance, I would certainly wonder why they needed a mortgage in the first place.

What can you do to protect yourself? I don’t think title insurance is a panacea for title issues. However, it’s one of the few ways you can protect yourself from title fraud. Even if you own a property that was purchased before title insurance was available, you can buy an existing homeowner policy through a lawyer’s office which includes protection against fraud.

This blog is intended as general information only and does not constitute legal advice. If you need legal advice, please speak to a lawyer.

If you have any questions/suggestion or require more information, please do not hesitate to contact me for buying or selling and also I will be happy to assist you negotiating your investment needs.

You can find the Residential/commercial/multiplexes/investment listings on webs sites as under

www.vijaygandhi.com

www.icxforsale.com

Vijay Gandhi,
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 

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!