Half-price homes? Canadians pounce on the Sunbelt
Last November Stacey Lynn found herself in Florida pondering whether
to buy a condominium in Naples or one in nearby Sarasota. The Toronto
woman ended up buying both.
"The prices were truly amazing, especially when you factor in the
exchange rate," said Lynn, explaining her splurge.
Except this wasn't for a pair of jeans. Cross-border shopping has
never been this good for Canadians.
No snow. No nasty bidding wars. And condominiums for the price of a
parking space in downtown Toronto.
For the full article, click here
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Mortgages: Fixed vs. Variable
With a growing number of people looking to purchase a
home, every homebuyer faces the age-old question of whether to choose a
fixed or variable rate mortgage.
"The most important thing a current or first-time
homeowner can do is talk to a knowledgeable mortgage expert about their
situation and make decisions based on their particular circumstances,"
said Jane Yuen, Senior Manager, Mortgages, BMO Bank of Montreal.
The Case for Going Fixed:
There's a small risk of an inflation flare-up as
global central banks keep the pedal to the policy metal, coupled with
record government deficits. If the Bank of Canada raises interest rates
significantly, variable mortgage rates could head up too but leave fixed
rates relatively unscathed. Plus, fixed rates are currently very
attractive given that short-term rates are already as low as they can
go.
The Case for Going Variable:
Variable rates have generally been less costly over
time. The calm outlook for inflation will likely keep price pressures at
bay well into 2011. There's also some risk to locking in as fixed rates
could fall if the economy performs worse than anticipated.
The Verdict:
The decision depends on the individual. For those who
don't have a lot of financial flexibility - such as first-time home
buyers and those who would run into difficulty from an upswing in
interest rates - the moderate extra cost of peace of mind from going
fixed may be a price worth paying. There's also a reasonable scenario
where fixed rates may actually prove to be a cheaper alternative at this
point. It's likely that variable rates will climb only moderately, but
by enough to tilt the balance in favour of current fixed rates.
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Spring One of a Kind Show
The spring One of a Kind Show starts on March 31!
Not quite as large as the Christmas show and sale - there are still dozens of artisans and always some great finds. There are craft classes for kids under 8 if you'd like to shop in peace!
Click here for more details
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Market News
TORONTO, MARCH 17,
2010 -
Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing
Service® (MLS®) during the first two weeks of March.
This represented a 70
per cent increase compared to the 2,562 sales recorded during the same period
in 2009 when resale transactions had dipped markedly due to the recession.
The mid-month sales
total was also 16 per cent higher than the previous March midmonth high reached
in 2006.
"The spring-like
weather in the first half of March brought the first green sprouts of the recurring
spring market. Every year, monthly sales climb steadily through May," said Toronto
Real Estate Board President Tom Lebour. "People are buying homes because they
are confident in the current economic recovery and mortgage payments on the average
priced home remain affordable."
Click here for the full article
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Sold! Garment Factory Loft
233 Carlaw Avenue Ph802
LISTED $399,000 AND SOLD FOR $455,000. Stylish Penthouse Suite In
Leslieville's Award Winning Garment Factory! Split 2 Bedroom Plan With
Living Area Of Generous Proportions Further Enhanced By Floor To Ceiling
Windows That Span Entire West Exposure To Capture Outstanding City
Views. Extended Vistas From Full Length Balcony. Soaring 10Ft+ Ceilings
Throughout. Granite Kitchen Counters. Large Kitchen Island &
Breakfast Bar. Gas Stove & Stainless Steel Appliances. Parking Spot
& Locker Adjoined. Click here for the full listing |
Sold! Executive Townhome
1230 Cornerbrook Pl
Exquisite Executive Townhome, Freehold, Backing Onto Golf Course.
Gleaming Hardwood Floors And Stairs, Cherrywood Kitchen, Upgraded
Appliances, Ceramic Floors, Tumbled Marble Backsplash. Balcony From
Livingroom And Ground Floor Patio Both Face South Onto Lush Golf Course,
Balcony From Diningroom Faces North. Private And Serene Cul-De-Sac
Location In The Heart Of Mississauga. Thousands Spent In Upgrades And
Renovations. Click here for the full listing |
Sold! Detached Home - Prime Location!
590 Palmerston Avenue
Our buyer fell in love with this Detached Family Home W/ Fabulous Great Room Addition Architect Designed
By Paul Martel. Great Room 22 Ft. High Cathedral Ceiling W/2 Opening
Skylights And Fan. West Wall Of Tall Windows. Natural Wood Beams And
Trim. Access To Garden & Basement Great Room. Renovation To Main
House & Addition Done 25 Years Ago. Lots Of Pine & Cedar
Ceilings & Potlights.
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Sold! 3 Unit Investment Property
224 Bicknell Ave
We found this well Maintained Solid Brick Home In A Desirable Area Of The City for our buyer.1 Bdrm
Basement Apt. Gutted And Renovated 2009. *3 Parking Spces In Rear. 2
Separate Hydro Meters. The Main Floor Is Rented For $1000, Upper Floor
Rented For 650, Basement Is Rented For $650. Tenants Pay Utilities. All
Elf's, All Appliances, High Efficiency Furnance 2004. Upgraded
Electrical.
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The Rental Corner
30 Grand Trunk Cres 3111
"Infinity" South West Corner Suite, approximately 975 square feet, 2
bedrooms, 2 bathrooms, extra large balcony (240 sq.ft.). Spectacular
city and lake views, parking and hydro included. Near Maple Leaf Square,
CN Tower, Waterfront, Air Canada Center, Rogers Center, Short walk to
subway, Union Station and financial district. Great amenities include
indoor pool and 24 hour concierge. Click here for the full listing |
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