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December Report: Best November Ever, Best Year Ever!
December 5, 2007 -- A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O'Neill announced today. "We have already exceeded the 84,145 sales recorded during 2005, which was our previous record," said the President. "By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been."
Prices were almost unchanged in November, with the average at $393,747, down marginally from the $394,646 recorded in the previous month. It was up 11 per cent over the $355,727 recorded during November 2006. Meanwhile, days-on-market came in at 32, and the list-to-sale price ratio was 98 per cent
Last month was another strong month for sales. Prices and sales volumes were high, read more
You may wish to read about the Power of Sale section at my website that will show you the pitfalls to avoid and the clauses to put into your offer when you buy a Power of Sale property in Ontario. This new section will also explain Power of Sale and Foreclosure in detail. Read more here.
I have my 2008 calendars in hand and will be delivering in a few weeks., if you want one for next year, follow the link below. If you would like to receive one of my calendars, please fill in your information at this form and I would be happy to send you a calendar once they arrive!
In case you missed it last month, I found this very interesting mortgage rate website on the internet where they survey mortgage experts to gauge the state of mortgage rates over the next 30 to 45 days: Will rates rise, fall or remain relatively unchanged?
You may read about Sold Stats for W16, W19 and W20. If you want the stats for your area, just email me and I will send them to you.
October real estate sales figures are now out. Last month statistics are now in the books and the bottom line is Summer Market Remains Strong!
Listing inventories are low, so if you are thinking of selling, this is a good time to list your home. The market has been 'very good' for the past month or so and new listings are need. Would you like a Complimentary & Quick Over-The-Net Home Evaluation of your property?
It appears as if rates may be about to rise in the short term. Many feel The Bank of Canada may be increasing rates in the near future from their current level of 4.75% prime, (Current Bank prime is shown here), so this should keep mortgage interest rates at their current levels.
Average single family residential prices were UP compared to the previous month. This is typical for this time of year. Price trends over the past 12 years indicate that prices will likely increase over the next month or so.
It appears as if rates may be about to rise in the short term. Many feel The Bank of Canada may be increasing rates in the near future from their current level of 4.5% prime, so this should keep mortgage interest rates at their current levels.
Last month was another very solid month to add to another banner year in real estate in the GTA. See graphs of the sales figures, read more
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Celebrating 20 Years in Real Estate!
I obtained my real estate license on Oct 26, 1987 and thus, October marks my 20th year in the real estate business.
I want to thank all of my clients and friends that have supported me and used my services over the past 20 years and especially those people who 'believed in me' back in those early years.
I hope that this finds you and your family healthy and happy and I wish you All the Best
My blog is moving along. I enjoy posting to it and keeping you current on the real estate market. I will update the blog throughout each month to keep you current with the real estate market. This newsletter will continue to be published monthly. Read my Mississauga Real Estate Blog
NOTE: You can often negotiate a discount of 1% or more off posted rates. "Best" Mortgage Rates
As of
September 13, 2015
the Bank Prime Rate was
6.00%
Prime means "best," and this is the rate that banks charge their absolute best customers for loans. Changes in the prime rate influence changes in other rates, including variable interest rate mortgages. This rate fluctuates based on economic conditions. Some mortgage companies offer interest rates starting at Prime less .75%!
P.Eng. Broker (since 1987)
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Mortgage Rate Watch and Comparison
