RealtyzoneBlog.com: June 2009

Now is a good time to jump into the market.  The real estate market in Toronto, Mississauga and the GTA has come back to life.  It's always a Buyer's Market, no matter what the statistics say!  Remember, even during slow times, thousands of people in Toronto & the GTA buy and sell homes.  Properties are selling quicker and, at times, in multiple offer situations.  Things like this may be occurring,  but you can still take a more liesurely approach to your home search;  it wasn't such a fun experience during the boom days, when you could spend more time choosing your next pair of new shoes than the home you wanted to buy!   Many are now taking advantage of the incentives and programs available to them.  For example: 

• Using up to $20,000.00 in RRSP's for your down payment
• 5% down payment
• Ontario & City of Toronto Land Transfer Tax rebates for first time buyers
• A conventional mortgage is now available with a 20% down payment instead of 25%
• low, low interest rates
• Up to 35 year mortgage amortization periods
• Government of Canada tax credits for home improvements
• Well priced properties

You know now is the time to buy.  If demand continues this strong, prices are more than likely going to start creeping up.  Visit my website www.gtamoves.com or www.vitopirri.com .

The resale market in Toronto and the GTA continues to gain momentum.  In the first half of June sales are up 19% and prices are up 2% over the same period last year. Over-all inventory is down a bit, which has made for more of a balanced market.  However, bidding wars have re-appeared and are also occurring in areas of the GTA where that has't occurred previously.

To view the statistics visit my website by following this link:   http://www.gtamoves.com/Market_Watch/page_2168648.html

401-800 Spadina Rd. in Forest Hill is Sold!

Forest Hill, Toronto  -  The condominium at 401-800 Spadina Rd. has been sold.  Click on the Property Infomation Link below to view the listing on my website www.gtamoves.com.  The market in Toronto has gained momentum.  The offer on this property came in less than 2 weeks after it was listed for sale, which was a record short listing for the particular building.  The final condition was waived yesterday!  If you have a similar property to sell please contact me.

Property information

If you're considering the purchase of a similar property, I'd be pleased as punch to assist you in finding your next home!

The only thing summery right now are the long days, over 15 hours of daylight today.  However, the weather is positively Octoberish.  Cool, overcast and rainy.  I can't wait for the heat and humidity.  You think it will ever come?  The weather lately makes me want to cozy up in a blanket, eat comfort food and watch movies!  Better weather is better for the real estate market!  Am I the only one who feels this way?

Well, the property finally sold.  When it was first put on the market, it was listed for $299,000.00.  It had been taken back to the rafters, studs and floor boards.  Then they received 22 offers.  The property was conditionally sold, but that fell through.  The property was then relisted at 329,000.00.  I don't know how many offers were received at that pricepoint, but there was obviously more than one as the property sold for well over the list price.  The property is located at 832 Escobar Cres. in Mississauga, and the MLS number was W1588447.

The percentages of homes selling in specific price ranges in the Toronto real estate market.  For the most current statistics, visit my website www.gtamoves.com or www.vitopirri.com

The Toronto/GTA Real Estate Market posted it's first year over year gain since 2007 as May 2009 put in a strong performance.  Prices are down, but only very very slightly.

Actually, the market started to show signs of life in February and has been gaining momentum since.  The summer should carry it's usual slow down, July and August are normally very slow.  However, if the market continues its momentum in the Fall, then I think we have a real recovery on our hands.

Click the link that follows to view the report on my website www.gtamoves.com, or cut and paste into your browser's address line:  http://www.gtamoves.com/Market_Watch/page_2168648.html

Here is quite an interesting report from Remax detailing how "Generation X" purchasers are ready to jump up and replace the "Baby Boomer" as the major purchasing force when it comes to buying recreation properties. 

It's a good read!

Click the following link or copy and past to your browser address line: 

http://www.remax-oa.com/MediaNewsroom/Pages/ReadMore.aspx?ItemID=48