2008 Resale Home Market To Remain Strong

Hey Bloggers – CMHC (Canada Mortgage and Housing Corporation) just sent me their fall press release for the St.Catharines area. In summary, the resale home market will remain strong for 2008 but new construction will decline.

FOR IMMEDIATE RELEASE

Resale home market will be strong, but construction will retreat

TORONTO, NOVEMBER 6, 2007 – Canada Mortgage and Housing Corporation (CMHC)
released its latest forecast for the St. Catharines Niagara Census Metropolitan Area (CMA) today in the St. Catharines-Niagara Housing Market Outlook, Fall 2007 edition. Reports are also available for Canada and other major metropolitan areas across the country.

Highlights of the Housing Market Outlook Report include:

• MLS® sales will remain high and close to the record set in 2004. About 6,600
units are expected to change hands in 2008, only 1.5 per cent lower than the
peak in 2004.

• With new listings growing faster than sales, the resale home market will become
more balanced. Price growth will ease to about four per cent in 2008.

• New home construction will continue to retreat in 2008 and will total 930 units.
Competition from the resale market will result in fewer new single-detached
starts. Multiple-family home starts will be very close to the level seen in 2007.

• Employment will remain flat. The strong Canadian dollar and high energy costs
will continue to impact the manufacturing and tourism sectors negatively.

“Affordability will be key to housing demand,” said David Lan, St Catharines-Niagara Market Analyst. “Low mortgage carrying costs and respectable income growth in the service sector will drive demand for medium-priced resale homes. Spill-over demand to the new home market will be limited. New single-detached home starts will retreat because their higher prices will drive many consumers back to the much more affordable resale home market.

“A combination of a slowing U.S economy, strong Canadian dollar vis-à-vis the U.S. dollar, and moderate inflation will help keep Canadian interest and mortgage rates low over the remainder of this year and in 2008”, added Lan.

Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for over 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.

For further information, please contact:
St. Catharines-Niagara CMA: David Lan, Market Analyst, (416) 218-3424
Ontario: Ted Tsiakopoulos, Regional Economist, (416) 218-3407
Canada: Bob Dugan, Chief Economist (613) 748-4009

Staging Works!

Bloggers – Staging has become a major advantage for me in marketing and selling my homes and especially for my clients. Here is a recent update from Staging Spaces and their personal stats.

T.

As you know I have a business of staging homes. Although staging has been around for 30 years in the States it is only beginning to become a necessary addition to selling homes in Canada. Thanks to television shows such as ‘Take This House and Sell It’ and ‘The House Doctor’ staging is fast becoming popular and is said that it will be as much needed as home inspections in a few years. Staging houses will give you a leading edge and a great marketing advantage over other realtors in the area.

I welcome you to visit my website at www.staging-spaces.ca to view some of the homes I have staged as well as some before and after photos. I have had amazing results with the homes I have staged, here are my personal stats:

My average staged home sells for 99.7% of asking price.
My average staging budget was $752.
My average staged home sells 12 days after being staged.
Homes on the market prior to being staged: 3
Average days houses spent on the market before staged: 113

Sincerely,
Stacey

Stacey Haluka
Staging Spaces
The first stage to selling your house

www.staging-spaces.ca

3rd Annual Christmas Caravan for Community Care

Bloggers,

A friend of mine who owns The Mouradian Group is doing the 3rd annual CHRISTMAS CARAVAN FOR COMMUNITY CARE from November 27th to the 29th, 2007. Any and all donations can be dropped off at 43 Church Street, Suite 400 or call them at 905-682-7380.

PLEASE HELP US SUPPORT NEEDY FAMILIES IN NIAGARA BY DONATING NON-PERISHABLE FOOD ITEMS AND TOYS!

Some suggested and much needed items are:

Canned Pasta, Canned Meat, Large containers of Soup and Juice, Dry Soups, Baby Formula

Small Toys (under $10): colouring & art supplies, puzzles, books, Bratz dolls

Thanks
T.

Timothy Salisbury
Broker
The Salisbury Team
Royal LePage Niagara Real Estate Centre Inc., Brokerage
Toll Free – 1-800-467-8498
Office – 905-937-6000
View My Website at www.timothysalisbury.com
When Buying or Selling, please remember me!

Happy Thanksgiving…

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When was the last time your REALTOR made a difference? (update)

Hello everyone!

Just an update on the Community Care Campaign which The Salisbury Team started back on the 1st of October and is running until December 15th, 2007.

For every house that we sell during this period, we will donate $100 to the Community Care of St. Catharines & Thorold.

As of today, we have sold 15 houses and that works out to $1,500 dollars donated so far!!

On a personal note, we went down to the Centre last week. If you’re ever having a bad day, go spend 30 minutes at the Community Centre, it was a real eye opener and made us appreciate what we have and not to worry so much about what we don’t. They are trying to feed 3,000 families this Christmas Season.

Should you want to help, please contact them directly at Community Care of St. Catharines & Thorold, 12 North Street, number is 905-685-1349 or simply call us.

The Salisbury Team – Helping the community one house at a time.
T.

Timothy Salisbury
Broker
The Salisbury Team
Royal LePage Niagara Real Estate Centre Inc., Brokerage
Toll Free – 1-800-467-8498
Office – 905-937-6000
View My Website at www.timothysalisbury.com
When Buying or Selling, please remember me!

 

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Current Mortgage Rates

Rate
Term
5-Year Fixed 5.94%
3-Year VRM 5.75%, Prime minus 0.50% fully open term

Quote of the Week

“A successful person is one who can lay a firm foundation with the bricks others have thrown at him.”
David Brinkley

Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
ph: (905) 321-3230
Paul.Croteau@bmo.com

Ontario Workers to get another day off!

A day after the provincial election was held in October, the Ontario government confirmed that it would create a new statutory holiday called Family day. The new holiday will be celebrated the third Monday in February, starting February 18th, 2008. Adding Family Day to the calendar would give Ontario workers and families a total of nine statutory holidays per year, putting the province on par with Saskatchewan, Alberta and British Columbia.

The eight other statutory holidays are:

New Year’s Day – Tuesday, January 1
Good Friday – Friday, March 21
Victoria Day – Monday, May 19
Canada Day – Tuesday, July 1
Labour Day – Monday, September 1
Thanksgiving Day – Monday, October 13
Christmas Day – Thursday, December 25
Boxing Day – Friday, December 26