CMHC said... the fourth quarter 2007 was a slow down. But the consumer side of the economy continues to grow. The Canadian economy is at near or full employment. MORTGAGE RATES - Mortgage rates continue to be good. EMPLOYMENT - job creation will continue to fuel housing demands INCOME - rising incomes will continue to help housing demands IMMIGRATION - Ontario continues to attract international immigrants. CONFIDENCE - Consumer confidence remains positive. Consumer confidence will continue to support demands for home ownership. RESALE MARKET - More balance expected. The rate of growth in the average MLS listing price will moderate in 2008. VACANCY RATE - remain stable, somewhat higher in 2008. A stable Ontario outlook will continue to sustain a high housing demand. Time to buy is now.
When getting your home ready to sell, you need to look at your house in a new way. Think of your house as a product about to go on the market where it is probably competing with brand new housing. It needs to show well – which means clutter-free and well kept.
Today’s homebuyers lead busy lives and may not be interested in taking on major repairs or improvements upon moving in. You need to make your house a “10”. It will give you the opportunity to take corrective action to ensure your house looks fresh, clean and well maintained when the “for sale” sign goes up.
CMHC says ( Canada Mortgage and Housing Corporation)
If you need to make improvements to your home, do the work before it goes on the market. Potential buyers are not interested in hearing about your good intentions to look after defects before a transfer of ownership takes place. Even if fix-up work is underway, buyers may not be able to visualize what your home will look like when the work is finished. They will just remember it being in a state of disrepair.
Home Inspections: A serious buyer may want to have a professional home inspector check your house from top to bottom before making an offer. Even though this guide will help you identify problems on your own, the option of hiring a professional home inspector is open to you, as well. If you can afford it, an inspection in advance of putting your home on the market is a good idea. It is your best way of finding and taking care of serious deficiencies before an inspector hired by a potential buyer discovers them.
Prices of resale homes edged up in Canada last month, but at a more moderate pace, signalling further adjustment in the housing sector, the Canadian Real Estate Association said Thursday."Many major markets are becoming more balanced and price gains are becoming more modest as a result," said CREA chief economist Gregory Klump in a release.
The Chatham market continues to have good prices and good mortgage rates. This is a great time to buy a home. Buyers have a great choice of good listings right now in Chatham (April 2008.)
Having your own home is an investment. Invest in Ontario.
Subscribe to this Site
December, 2007