When reviewing the Guelph Real Estate Sales for May 2010, we can definitely see a trend as the market moves more towards a balanced state. Each month this year, we have seen the inventory levels slowly rise indicating that buyers have more choice and don’t have to worry about the “bidding wars” and “Buyer frenzies” that plagued the market earlier this year. Buyers can take a bit of a breather and make educated decisions as to what they want to purchase and what suits their needs. This may not sit ...
The most common complaint Buyers have closing their house purchase is that the basement has a water leak and the Seller told them it was a dry basement. How as a buyer do you protect yourself? You have a home inspection and if the inspector raises any questions, you get the Seller to represent in the Agreement there are no problems. You ask the Seller in the Agreement to represent in writing that there have been no leaks and the basement has always ...
The building envelope is the outer layer of the building that separates the living space from the outdoor environment, both above and below grade. Many older homes have high heating requirements because of high rates of air leakage and building envelope areas that are not well insulated. Like any renovation, retrofitting the building envelope requires careful planning. Before you decide to go ahead with the project, it is important to clearly identify the areas that you want to improve. ...
When reviewing the Guelph Real Estate Statistics for April 2010, they prove once again that we are still in a hot real estate market here in Guelph. Dollar volumes outpaced the same period last year by a whopping 51.8 percent, unit sales increased 33.3 percent, average prices by almost 14 percent and the inventory levels (or active listings) were down over 15 percent. Year over year we see the same trend as sales and average prices outpace those of last year for the same period. A trend ...
The Bank of Canada announced today that they increased the overnight lending rate a quarter of a percent to 0.5% This most likely is the beginning of a series of increases that we will see during the latter half of this year as the Bank of Canada tries to keep their inflationary targets at 2% or less. The Bank of Canada has been very successful in keeping inflation under 2% with its monetary policies since the early 90's. I am sure some of you remember the 80's when inflation skyrocketed ...
Greece normally doesn’t affect us. Over the past week the “crisis” in Greece has had an unlikely benefit for Canadians looking to buy homes: It has driven down the bond yields which is leading to lower fixed mortgage rates. You can expect fixed mortgage rates to fall by June 1st. Call us if you would like more information about how global events can impact rates! Warm regards, Chris -- Christopher Bisson The Mortgage Centre 519-763-3900 ...
I love roller coaster rides. Like the one we are on right now, with rates moving up and down at every turn, or every other week when good or bad news comes out. Given most of the Government spending related to keeping our economy moving is hitting this spring we will see better than average figures on the employment side. When the money is spent we will likely see those figures soften, making inflation less of a concern, and leaving the door open for lower fixed rates. If you are ...
The “Market” is a strange beast. While most economists will tell you that the Market is always right, I also think that there is a certain amount of “Heard Mentality” that pushes the Market to make bad moves. When certain stocks get overheated, it is usually because of the blind optimism of the herd. The same can hold true in the bond market, where bond buyers drive the rates up because they fear inflation. And there’s a good bit of that going around right now. Rates are on the move ...
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