The Canadian Real Estate Association (CREA) reported Friday that 496,890 homes were sold across the country between Jan. 1 and the end of November, up 2.7% from the record set for the entire year in 2006. New annual records have already been set in every province except Alberta and B.C.
The average selling price rose 11.7% year-over-year in November to $313,645. British Columbia remained the most expensive housing market among the provinces, with an average sales price of $438,207. The average selling price in Alberta was second at $356,322 while Ontario grabbed the third spot with an average price of $298,730.
Friday, December 28, 2007
Saturday, December 22, 2007
7 Tips for Flipping Properties in Today’s Market
When it comes to real estate investing, many people are making money right now by flipping properties. Sure, today’s market is not the greatest at this point in time, but despite of home prices that are falling and the housing boom that is now over in some areas, this is a prime time for flipping properties. Of course if you plan on getting involved in flipping properties there are many things that you are going to have to take into consideration. While it may sound quite simple, there is quite a bit to learn if you are going to try to be successful at flipping properties, so the following are several tips that will help you with flipping properties in today’s market.
Saturday, December 15, 2007
Real estate prices rise again in Lower Mainland
VANCOUVER - Real estate sales rose in communities across the Lower Mainland in November, with Metro Vancouver approaching a level not seen since 2005.
The Real Estate Board of Greater Vancouver, which covers Metro Vancouver, and the Sea-to-Sky region, saw 2,883 Multiple-Listing-Service-registered sales, a 22-per-cent increase from November, 2006, and just slightly below 200.
Most of those sales, 1,816 were condominiums or townhouses.
The Real Estate Board of Greater Vancouver, which covers Metro Vancouver, and the Sea-to-Sky region, saw 2,883 Multiple-Listing-Service-registered sales, a 22-per-cent increase from November, 2006, and just slightly below 200.
Most of those sales, 1,816 were condominiums or townhouses.
Saturday, December 8, 2007
Realtors attribute dip in detached-home prices to seasonal slump
The latest housing market statistics show the average Fraser Valley house price has declined for the second month in a row, reaching $511,176 in November.
That price is the lowest for detached homes since March, reported the Fraser Valley Real Estate Board.
Realtors look at the shift as nothing more than a seasonal slump, and economists are uncomfortable calling it a price trend other than to say it follows evidence of the market slipping into equilibrium.
That price is the lowest for detached homes since March, reported the Fraser Valley Real Estate Board.
Realtors look at the shift as nothing more than a seasonal slump, and economists are uncomfortable calling it a price trend other than to say it follows evidence of the market slipping into equilibrium.
Saturday, December 1, 2007
When income properties are a bad thing
Life ought to be good for a Toronto couple we'll call Max, a senior executive in a non-profit organization, and Jane, a real estate broker. Max, 43, earns $175,000 a year; Jane, 35, earns $25,000. Their combined gross incomes - $200,000 in earnings plus $44,000 a year in gross rentals from four properties - should provide a plenty of security for them and their two children.
But they don't really have that much security. Their first mortgages, including a Home Buyers' Plan loan, total $649,800 and their second mortgages add $107,500 of debt, for a total of $757,300. Add $5,000 on a line of credit and their debts are $762,300.
But they don't really have that much security. Their first mortgages, including a Home Buyers' Plan loan, total $649,800 and their second mortgages add $107,500 of debt, for a total of $757,300. Add $5,000 on a line of credit and their debts are $762,300.
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