Toronto Real Estate Market Dropping 22%
Posted by Top Home Loans in Mortgage News, Real Estate on September 6, 2010
Earlier in the year, many home buyer’s wanted to buy early due to the threat of increased mortgage rates and changing mortgage regulations. This caused a spike of sales earlier in the year. Also, 2009 featured a purchasing frenzy with sales about 9% higher than normal purchasing trends.
How did Property Values do in the Greater Toronto Area?
Average house prices still remain up. The average August transaction featured prices of $411,012. This was up 6% from the previous year. The average house price in August 2009 was $387,921.
Market conditions will remain tight over the next few years, and with new lending rules, it could be awhile before the market fully recovers. Under the current conditions, a GTA household income can comfortably afford the payments on a new property in Toronto. Market conditions and affordability would have to change strongly before seeing a substantial decrease in property values.
Do you thin market conditions will improve? Will house prices go up in the next few years? Leave your response in the comments below.
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You Should have an Inspection Done on your House
Posted by Top Home Loans in Property Management, Real Estate on September 5, 2010
Everyone thinks that you only need to do an inspection on a property when you are looking to buy or sell a property only. The fact is that you should have an inspection done on your property more frequently than that. In fact, you should get an inspection done on your property every couple of years. The reason is that there are usually a lot of wear and tear problems that happen to houses. If they are not serviced quickly when they are small problems, then they can expand to become major problems.
By servicing small problems, this can save you hundreds, if not thousands, of dollars over the course of your mortgage. If you are able to take care of all problems when they are small, then this will save you on major problems in the future. Solving a lot of these problems can also save you on utility costs. For example, if you have leaky windows or doors, then you could be losing a lot of energy out of your doors and windows. By having these problems fixed, then you can save yourself a lot of money on maintenance fees and utility costs.
How often do you have an inspection done on your property? How much do you pay for your inspection? Leave your response in the comments below.
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Moving Sucks! Moving Tips to Make your Next Move Easy
Posted by Top Home Loans in Off-Topic, Real Estate on September 5, 2010
When buying a new house, most people do not think about the move. Moving is a critical step in the process of purchasing a new property, and it should not be taken lightly. Several quotes should be done before you make the move, and you should go with a reputable moving company. Many moving companies use employees that you may not want to have associated with your goods, so make sure that you find a moving company that you can have a good relationship with.
When moving, it may end up costing you much more than you expected, but for good service, it is usually well worth it. Make sure that you use plenty of packaging and safety to take care of your household items. You want to keep everything safe, so you want to make sure that everything is well covered.
How was your last move? Was the company that you hired professional? Leave your response in the comments below.