Business Card
Fran's eNewsletter 
 December 2009
 
 
 
Dear Friends,
 
Greetings! I'm sending you this electronic newsletter with hopes to keep you updated with current real estate market and mortgage rates.
 
If you're thinking of making a move, or are just curious as to real estate trends in your area, please feel free to call me anytime at my Cell. 416-917-6787, or email me at fran@franlee.com. It's always good to hear from you and please bear in mind that I am never too busy to serve you or any of your referrals!
 
<Not intended to solicit listings already under contract>
Real Estate Market Update

Greater Toronto Area REALTORS® Report December Mid-Month Resale Housing Market Figures

December 17, 2009 - Greater Toronto REALTORS reported 3,079 existing home transactions in the first two weeks of December compared to 1,487 in 2008. The strong growth represents both increased home ownership demand and the fact that we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter.

Year-to-date sales, at 84,888, were up 16 per cent compared to the same period last year and have moved in line with the healthy levels experienced in the 2004 through 2006 period.

"We experienced a very strong and broad based recovery in the second half of 2009," said Toronto Real Estate Board President Tom Lebour. "The rebound in the housing sector speaks to the confidence that households have in overall economic recovery."

The average resale home price during the first two weeks of December rose 17 per cent to $423,103. The year-to-date average was $395,411, up four per cent compared to the same period in 2008.

"The double-digit price growth we have experienced since September will continue through the first quarter of 2010. Average price growth will move to a sustainable pace in the spring as listings increase," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

 

- Toronto Real Estate Board

 
Real Estate Information
Canadians Believe in Real Estate

December 14, 2009 - Amid one of the worst recessions since the Great Depression, the one safe harbour proved to be housing. Not stocks. Not bonds. Real estate.

Why? The answer is really quite simple. Canadians believe in real estate.

Housing has proven itself a resilient and tangible investment that provides both a hedge against inflation and long-term appreciation. Buyers demonstrated their commitment en masse in 2009-taking advantage of rock-bottom interest rates and greater affordability levels-to drive housing sales and/or average prices to new heights. This year's real estate performance has been nothing short of remarkable.

The surge in sales has allowed residential real estate markets to play a key role in leading Canada out of the downturn. It is estimated that a total of $46,400 in ancillary spending are generated by the average housing transaction in Canada. With 465,000 resale homes expected to change hands by year-end 2009, that represents a $21.5 billion boost to the economy-not to mention the countless jobs and tax revenue housing supports. Going forward, the real estate sector is expected to have an even greater impact.

While markets are firing on all cylinders from Vancouver to St. John's, recovery is still in its early stages, and there could be some bumps along the way. As such, it's important to stay focused and be prepared. This is the ideal time to start sowing the seeds for next year, starting with your client base. Take heed of events that have occurred during the latter half of 2008 and 2009. Just one year ago when the market virtually ground to a halt, the agents who used their time resourcefully came out of the gate the fastest when business picked up.

Going forward, the fundamentals look positive and the New Year is poised to be a busy one. Canadians will continue to demonstrate their commitment to homeownership. As recovery continues, real estate will remain at the forefront.

- RE/MAX Ontario-Atlantic Canada Inc.

Pre-construction Condos Highlights
 
(1) 33 Bay Street at Pinnacle Centre (Bay St/Harbour St):
 
Grand lobby with 24-hour concierge, luxurious private residences with spacious balconies and spectacular views of the city and water.
 
Residents of 33 Bay will also enjoy all the fabulous conveniences available at the Pinnacle Centre, including the 30,000 square foot Pinnacle Club that features a wide variety of exclusive amenities like a 70 foot lap pool, 2 state-of-the art fitness centres, a putting green, tennis court, squash court, racquetball court, and business centre.
 
Offering the best of downtown Toronto, 33 Bay at Pinnacle Centre is only minutes away from the Financial, Entertainment and Theatre Districts, as well as the city's finest shops, restaurants and major league sports venues.
 
Prices starting from $261,900 for 529 Sq Ft suite size. 
 
Tentative occupancy: October 2011
 
Developed by Pinnacle International
 
(2) River City (King St E/Don River):
 
Located on King Street East, minutes from Yonge Street and Bay Street with easy streetcar access.
 
As the first phase of Toronto's new revitalized waterfront, River City is Toronto's groundbreaker for the twenty first century. Setting the stage for the entire waterfront redevelopment that is now underway, it is about a new way of living, and a new style of living, unlike any other in Toronto.
 
River City will be a collection of 5 buildings built over the next five to seven years. Phase 1 will consist of a 16 storey building on King Street (tentative occupancy November 2012), and a 6 storey building on River Street (tentative occupancy February 2013).
 
Prices starting from $169,900 for 349 Sq Ft suite size.
 
Developed by Urban Capital Property Group
 
Please call Fran for details.
Mortgage Rates  
December 17, 2009
   
Term               Posted         Best
6 Month           4.60%          3.50%
1 Year             3.65%          2.35%   
2 Year             3.95%          2.90%
3 Year             4.50%          3.25%
4 Year             5.19%          3.84%
5 Year             5.59%          3.74%
7 Year             6.60%          5.25%
10 Year           6.70%          5.30%
Variable Rate                     2.15%
 
Prime Rate = 2.25%
                                                                    
*Rates shown above are provided by Mortgage Alliance and are subject to change without notice  
Best Regards,
 
Above The Crowd Balloon
Fran Lee
Broker
Accredited Buyer Representative
Certified Sellers Representative
Accredited Senior Agent
Certified Neighborhood Specialist
e-PRO
Member of The Chartered Institute of Linguists
 
RE/MAX Crossroads Realty Inc.