Ajax Pickering Real Estate Blog

A reasonable question. When you have decided to buy your first home or condo, the services of a qualified real estate agent are of utmost importance. The ideal real estate agent will have a good working knowledge of local real estate market conditions, be prepared to deliver a high standard of service to customers, and have the support of a successful real estate company. Most importantly, a good real estate agent will save you time and money.

Advantages when selling a house or condo:

* A real estate agent knows real estate values in your neighbourhood and will help set an agreeable and competitive price on your home.

* A real estate agent will establish a marketing strategy for your home ensuring that your property is exposed to scores of potential buyers.

* A real estate agent takes care of the many tasks involved in selling a house (from placing your listing to putting up the for sale sign). This ensures that the transaction is simple and low-stress for you.

* A real estate agent is an expert in the home selling process and as such will advise you of your rights, options and obligations.

* A real estate agent is an experienced negotiator and will work for you to get you the best price possible price

Right At Home Realty offers the ultimate level of real estate services to our customers. Our real estate agents are the best in the business, our products and services are the best on the market, and our company is committed to delivering the best results.
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Contact the Jeffrey Team for more information - 416-388-1960

By Lori McLeod - Globe and Mail

After three successive months of declines, sales of existing homes in Canada unexpectedly reversed course in October, gaining 1.3% from the previous month.

The gain is most likely an aberration rather than a sustainable trend, however, and real estate sales are expected to decline gradually for the rest of the year and in 2008, said Gregory Klump, chief economist at the Canadian Real Estate Association.

“The rebound was particularly surprising because it was spread right across the country in a number of major real estate markets,” Mr. Klump said. “However, we are still expecting that sales will gradually erode, primarily due to a decrease in affordability.”

Sales of resale homes rose to 28,966 units in October, a 7.6% increase from the same month last year, according to statistics from the Canadian Real Estate Association.

Activity rose in Toronto, Edmonton, Hamilton-Burlington, Montreal, Quebec City and Winnipeg. Stronger sales in these markets offset declines in Calgary, Vancouver, Saskatoon and Sudbury - cities that have experienced huge real estate price increases in the past year.

The average price of a resale home in Canada rose 10.6% to $333,544 in October from last year, the sixth consecutive month in which the increase has exceeded 10%.

In Toronto, Regina, Saskatoon and Montreal, average real estate prices reached their highest levels on record.

Sales activity in most major centres has been strong at the high end of the real estate market, probably because there’s a dwindling supply of lower-priced homes left in many cities, Mr. Klump said.

Listings of residential properties on the Multiple Listing Service decreased slightly in October from September, but they still reached their fifth-highest monthly level on record.

“Negotiations still favour the seller in nearly all major markets,” Mr. Klump said.

Sales levels are expected to edge down as higher real estate prices and rising mortgage rates continue to squeeze buyers out of the market. The posted rate on a five-year mortgage at the big banks is currently sitting at 7.44% - 1.5 percentage points higher than where it was in April.

While real estate sales activity is expected to slow next year, it should still be a strong year, Mr. Klump said.

“This will be a gradual slowdown but it doesn’t portend disaster. [Next year] is still expected to be one of the best years on record, second only to 2007,” he said.

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Contact the Jeffrey Team for more information - 416-388-1960

Grant Surridge, Financial Post

Sales of existing homes in Canada’s major cities reversed two months of declines in October, clocking in with the largest ever figure for that month, according to a national real estate agents‘ association.

Seasonally adjusted national sales rebounded to 28,966 units in October, climbing 1.3% from the level in September, said the Canadian Real Estate Association on Thursday.

“The thing that surprised me most was the fact the rebound occurred in markets across the country,” said Gregory Klump, chief economist at the Canadian Real Estate Association.

“It just shows the strength of resale housing markets across Canada.”

The average resale price rose 10.6% year-over-year to $333,544, the sixth consecutive month that number climbed over 10%. Average prices hit record levels in Regina, Saskatoon, Toronto and Montreal.

Mr. Klump contrasted the continued positive news emitting from the Canadian housing market with the doom and gloom from south of the border.

“We continue to see sellers’ markets, not buyers’ markets like in the States.”

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Contact the Jeffrey Team for more information - 416-388-1960