Survey finds 16% couldn't pay $500 more in mortgage
Nearly one in six Canadians would not be able to handle a $500 increase in their monthly mortgage payments, a new survey from the Bank of Montreal suggests. According to the bank, 16% of respondents said they would not be able to afford such an increase, while more than a quarter, or roughly 27%, would need to review their budget. More......
118 Avenue Roads
Exclusive Listing - Rare Opportunity - Unique property in Prime Ave/Dav - Yorkville strip. Multi-Use Building. Live/Work space. Approx 1700 sq.ft. commercial/retail space on Main, 2nd Level approx. 1700 sq.ft., 2 bedroom, 2 baths, new kitchen. Lower level approx. 1600 sq.ft. 2 parking spaces.
The boom in Canada's housing market continued in August with sales of existing homes edging up .3% month over month & holding at levels not far off the five-year high reached in May, according to the CREA. In its latest survey released September 15, 2015, CREA says sales of existing homes were little changed from July in all local markets, with an even split between those posting increases & those showing declines. On a full year basis, actual sales were up 4% compared with August 2014 & were 6.6% above the 10 year average for the month. Prices continued to rise in Ontario & B.C. "where listings are either in short supply or heading in that direction," said CREA chief economist Gregory Klump, who noted that the month also provided "early evidence that modest price growth is re-emerging in some markets in Quebec & New Brunswick." Klump added that enduring low interest rates continued to boost home sales & were "likely to keep doing so for some time."
HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.
When should I sell my home? Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.
A hot market is a "sellerís market". During a sellerís market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.