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Real Estate Updates on Market Trends, House Prices, Homes for Sale in the GTA, Mississauga, Toronto, Brampton, Oakville and Burlington. Sutton Realty Blog, Sutton Mortgage, Contact Sutton 416-896-3333, 905-896-3333 Canada Toll Free 1-800-265-1361

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  • Toronto & GTA Real Estate Market Trends, House Prices, Homes for Sale, Sutton Realty Blog, Sutton Mortgage
GTA Real Estate Market Top Headlines for January 2010 - Toronto

Here are my favourite Top Real Estate Headlines coming into the February 2010 market.  The latest Toronto and GTA market stats plus general info you need to know when buying or selling.

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Toronto Mississauga House Prices for February 2010January  sales were off to a great start!  GTA realtors reported 4,986 transactions in January 2010.  That's an incredible 2,670 increase from January 2009 when home sales were in a recessionary trough. 

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The average home selling price in January climbed 19 percent to $409,058 compared to $343,632 in the same month last year.

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Housing proved to be a safe harbour for much of last year.  Rock bottom interest rates helped fuel the activity, but the value that Canadians place on owning a home was equally important.

 

Canadian House Prices Set To Climb:  MLS

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The Canadian Real Estate Association has revised its forecast for Canadian home sales over the next two years. According to the report, activity will reach a record 527,300 units, up 13.3% from 2009. Meanwhile, home prices will climb 5.4% to a record $337,500, with gains in all provinces. Where will we see the biggest jumps? Click to find out msn's pick.

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Canada's housing market is on the rebound after a decline in 2009 with resales expected to set a new annual record this year and home building is off to a strong start, according to two reports Monday. There isn't a bubble because of a lack of speculation in the real estate market, said Scotiabank senior economist Adrienne Warren.

Prices are being driven by more buyers than sellers, not unexpected with a tight supply, and buyers may be overpaying a little in some markets, but, "we don't think there's a bubble," she said from Toronto.   More

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Are interest rates going upThe Bank of Canada stated that conditional on the outlook for inflation, the overnight rate can be expected to remain at its level until the second quarter of 2010.
Home ownership is the cornerstone of financial independence and security. It may seem a daunting prospect to younger people or first-time buyers, but it is achievable.  You may be wondering how you can possibly afford to purchase.  

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Well,  February brings a few extra opportunities if you contribute  this month to a rrsp.  Savings you can withdraw, plus a tax credit in April that could help with your closing costs. Call and we would be happy to can explain the process 416-896-3333.

With rates so low, lock into a 5, 7 or 10 year mortgage rate if you want the feeling of long term stability.   Compare Sutton Member Mortgage Rates
 
From September to December 2009, Treb reported 3,859 lease transaction for condo apartments and townhomes through the mls system.  Up 12% over the same period in 2008.  Condo apartment transactions, accounted for over 90 percent of the total, and up 12 percent.  Complete Rental Report.

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We understand the needs of our investors, we want them to enjoy as carefree an investment as possible.   Our "full service" rental department allows our clients to relax. We do it all - mls exposure, extensive advertise, schedule viewings, prepare documents, credit checks and more. 

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Do you have a Toronto / Peel Investment to Rent?  Just call our Rental Department at 416-896-3333.   Looking for a Mississauga Condo to Rent, A Home in Etobicoke, maybe a Studio Suite in Downtown Toronto, Check out the Rental Inventory

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HST Toronto Real EstateFrom The implementation of the Harmonized Sales Tax (HST) is expected to cause a run up in housing activity during the spring market, as purchasers move to avoid additional expenses. 

In the longer term, the HST is expected to impact new construction, shifting some of the buyer demand to the resale sector, at least until buyers adjust to the new normal.  More Details on the HST.   Need a calcuator to figure out Ontario and Toronto Land Transfer Tax click here.

 

 

First Time Buyers! Here is Motivation to Buy Today with 5% Down

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Finance Minister Jim Flaherty stated he has seen no evidence of a bubble, but he has discussed measures to cool the housing market, including raising the minimum down payment requirement
above five per cent, or reducing the maximum length a residential mortgage can be amortized
from 35 years..

First Time Buyers with a low down payment may have a limited time to take advantage of the 5 percent down program.
Ask us about our Sutton Member Mortgage Program.  Incredible Low Discounted Rates.  Worth Comparing.

Sutton Group Real Estate Toronto 416-896-3333 or Mississauga Sutton 905-896-3333

Visit us at www.SuttonRealty.com or http://www.searchtorontohomes.com/

 

Posted: Tuesday, February 09, 2010 12:48 AM by Sutton Realty

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