Frank Steinhausen, Broker
FSteinhausen@REMAX.net
RE/MAX Rouge River Realty Ltd., Brokerage
Phone 905-428-6533
Fax 905-668-1850
Categories
- Real Estate News
- Home staging
- neighbourhood
- Neighbourhood fun
- Green Building
- Home Inspection
- Pickering Village
- Real Estate
- Real estate investment
- Buying real estate
- Selling real estate
- Ajax
- Pickering
- Whitby
- Oshawa
- Durham Region
- Area interest
- Mortgage
Archives
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
Blogroll
Realosophy - Pickering Schools, Home Prices and Neighbourhood Photos
Realosophy - Ajax Schools, Home Prices and Neighbourhood Photos
Realosophy - Whitby Schools, Home Prices and Neighbourhood Photos
Realosophy - Oshawa Schools, Home Prices and Neighbourhood Photos
Archive for January, 2009
5 Factors That Decide Your Credit Score
January 29th, 2009 Categories: Ajax, Area interest, Buying real estate, Pickering, Pickering Village
With so much talk about credit crunches and lenders tightening their belts, knowing where you stand can give the edge in obtaining a mortgage, or fixing a problem before you apply for credit.
Your credit score determines not only whether you will get credit, but can also influence your rate or whether you need to get a guarantor.
Credit scores range between 200 and 800. The higher your score, the more choice you will have with mortgage options and lenders. These factors will affect your score.
- Your payment history. Whether you paid credit card obligations on time.
- How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
- The length of your credit history. In general, the longer the better.
- How much new credit you have. New credit, either installment
payments or new credit cards, are considered more risky, even if you pay promptly.
- The types of credit you use. Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example.
| Currently No Comments »
182% Increase In House Prices
January 27th, 2009 Categories: Ajax, Area interest, Pickering, Pickering Village, Real Estate News
I was having a conversation about the current state of affairs in the real estate market with a colleague recently. He had helped a seller negotiate a deal and the seller was stuck. He didn’t want to give the buyer the last $500. The owner re-bought his house for $500.
This seller had been in his house since 1996 and felt that he had been losing money for the last 8 months, when the average house price started to fall
.
The seller hasn’t lost any money. He wasn’t trying to sell his home 8 months ago. He is trying to sell it now.
In 1996, the average price of a home sold for was $198,450. The average home sold for $361, 415 in 2008. That means that on average, this seller saw a 182% increase in his investment. That’s a generous 12% increase on his investment.
What’s your net gain?
| Currently No Comments »
Saver or Spender: Are You Going to Put More Money in the Bank or the Economy?
January 22nd, 2009 Categories: Area interest, Real Estate News
Some of next week’s budget details were leaked and it seems that the conservative government is going to be in the spender category over the next couple of years. I think that means they are planning on spending more of my money.
It seems that Canadians in general were spenders in 2007. They spend 3.3% more than in the previous year. Statistics Canada suggested that we were happily doing our part to keep the economy going.
With the doom and gloom that is presented in the paper these days, a report by CIBC World Markets, we might be changing our tune. “The urge to save more and borrow less to repair shattered household balance sheets will be the key in the economic hangover from the huge wealth loss associated with a steep drop in global equity and real estate valuations,” say Avery Shenfield and Benjamin Tal.
All the television commercials about tax-free savings accounts makes me think that the banks are getting ready for more savings too.
| Currently No Comments »
Mid-Month January GTA Housing Resales at 888
January 19th, 2009 Categories: Ajax, Durham Region, Pickering, Pickering Village, Real Estate News
TORONTO, January 19, 2009 – Greater Toronto REALTORS® reported 888 sales during the first half of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada, the economic situation throughout Canada changed noticeably over the past year with job losses in the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has been impacted,” according to TREB President Maureen O’Neill.
The average GTA price mid-way through January is $332,495 from $367,574 during the same period in 2008. The median GTA price was $301,000 compared to 316,000 last year. “While sales have declined, listings have remained high. GTA home buyers have benefitted from more choice,” explained Ms. O’Neill. “Historically, increased choice in the marketplace has equated to a moderation in price growth.”
In January 2009, stronger declines in sales and prices were experienced in the City of Toronto. “Sales for January a year ago may have been elevated by the flurry of transactions completed before the city’s land transfer tax went into effect,” added Ms. O’Neill.
“The costs of home ownership in the 416 has increased due to the added land transfer tax many home buyers now face in the City of Toronto. Some households considering the purchase of a home in the City have either put their decision on hold or looked elsewhere in the GTA.”
SUMMARY OF MID MONTH JANUARY SALES AND AVERAGE PRICE 2008 2009
City of Toronto (”416″) — Sales 2009: 369, Average price: $350,835; Sales 2008: 800, Average price: $394,205.
Rest of GTA (”905″) — Sales 2009: 519, Average price: $319,455; Sales 2008: 976, Average price: $345,745.
GTA — Sales 2009: 888, Average price: $332,495; Sales 2008: 1,776, Average price: $367,574.
Source: Toronto Real Estate Board
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
| Currently No Comments »
The Real Estate Year in Review for Ajax
January 14th, 2009 Categories: Ajax, Pickering Village, Real Estate News
The Ajax area covers all of the city. Unlike Pickering, the north and south area are not divided.
The Ajax market seemed to weather the storm a bit better in terms of prices for 2008 and sales were off slightly.
The average price for a home in Ajax for 2008 was $296,261 compared to $289,418.
1508 homes changed hands in 2008. In 2007, there were 1771.
For the month of December, 38 homes were sold with an average price of $282,268. In 2007, 79 homes sold with an average price of $298,908. This difference in price could be reflected in the type of homes that were sold and their location.
I can give you detailed information about your specific neighbourhood.
| Currently No Comments »
The Real Estate Year in Review for North Pickering
January 14th, 2009 Categories: Pickering, Real Estate News
North Pickering seemed to buck the trends. Where other markets numbers went up in some cases, north Pickering’s numbers went down.
The average price of a home in 2007 was $309,306. In 2008, it was $307,409. That number could just be reflective of the type of homes that were selling.
The number of homes that sold in 2007 was 1117 and in 2008 it was 909, which is similar to what was happening all over.
The average price of a home sold in December 2008 was $304,629 compared to $301,629. More homes sold in December 2007 at 40 versus December 2008, there were 21. As with most neighbourhoods, there was a 50% reduction in the number of sales.
| Currently No Comments »
The Real Estate Year in South Pickering
January 14th, 2009 Categories: Pickering, Real Estate News
South Pickering really reflected what was going on in the GTA as a whole. Sales were down slightly and prices were up slightly.
The average price for 2007 in South Pickering was $287,998. The average price for a home for 2008 was $292,757.
The sales were down slightly over last year with 269 sales in 2007 and 232 sales in 2008.
The numbers for the month of December again reflected the market. The average price was down slightly from $264,179 to $260,286 and the number of sales was half—7 versus 14.
South Pickering covers the relatively small area of Pickering south of the 401, so understand that 7 sales doesn’t sound like a lot, but there were only 36 listings actively on the market at the time.
If you would like to hear about your neighbourhood—East Shore, West Shore, Rosebank—let me know.
| Currently No Comments »
What the Real Estate Numbers Mean To You
January 12th, 2009 Categories: Ajax, Durham Region, Pickering, Pickering Village, Real Estate News, Selling real estate
I am not here to tell you that it’s a great real estate market, therefore BUY, BUY, BUY or SELL, SELL, SELL. I think that you need information to make a good real estate decision.
Here is some information so that you can make an informed choice, if you are buying a home, or needing to put your home on the market:
The average price in the Greater Toronto Area for all of 2008 was $379,347. This is up from the average price for 2007 of $376,236.
You might be thinking that that isn’t much. And it’s not. But if we were to straighten out the bumpy road of house price increases over the last 20 years, we would see a 4% increase each year. This small increase is a flattening of the line to make up for substantial gains made in the last few years.
Since April 2008, there has been a decline in the average price of homes sold. In April, the average was $398,687. In December, it was $361,415.
Say what you want about averages, that doesn’t look pretty. The thing is: I don’t know many people who bought a house in April and were looking at selling it in December. The people that do are the flippers, and I am sorry about your loss.
The real estate association did a study that states that, on average, people move every 5 to 7 years over their lifetime (it’s an average, remember).
So let’s look at what has happened to your house price since you moved in say, 5 years ago.
In December 2003, on average, a single family home sold for $284,955. Now it is selling for $361,415. That is a 26.8% increase in your tax-free net worth. An average of over 5% per year.
Remember that home ownership is a secure tax-free system of saving money and building net worth. And, with the average Canadian saving less than 1%. Real estate is a great investment.
Call me to find out if this is the right time for you to make a move.
| Currently No Comments »
2,500 Sales in December, 74,000 in 2008
January 10th, 2009 Categories: Ajax, Area interest, Durham Region, Pickering, Pickering Village, Real Estate News
TORONTO - Friday, January 9, 2009 — TREB Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today. “Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006.”
The average price in December of 2008 came in at $361,415, compared to $394,931 last year, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.
The City of Toronto (416) recorded 1,105 sales in December, compared to 2,302 in December 2007 and 1,827 in December of 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006.
The average price in the city was $387,482 compared to the $425,842 recorded in December of 2007 and the $350,139 recorded in December 2006. For all of 2008 the average was $410,271. In 2007 the comparable figure was $412,480, and in 2006 $378,776.
The 905 area saw 1,472 sales in December, from 2,344 in December of 2007 and 2,620 in December of 2006. For all of 2008, there were 44,674 sales in this region, versus 54,141 in 2007 and 48,680 in 2006.
The average price in the 905 was $341,847 in December, compared to $360,307 in 2007 and $326,509 in 2006. For all of 2008, the average was $358,665, as compared to $350,092 in 2007 and $332,976 in 2006.
Breaking down the total, 993 sales were reported in TREB’s 28 West districts and averaged $338,855; 473 sales were reported in the 14 Central districts and averaged $479,095; 491 sales were reported in the 23 North districts and averaged $381,975; and 620 sales were reported in TREB’s 21 East districts and averaged $291,488.
Median Price
The median price for December was $305,000, compared to $320,950 in 2007 and $290,000 in 2006. For all of 2008, the Median was $325,000, as opposed to 320,950 in 2007 and $299,000 in 2006.
| Currently No Comments »
Toronto Land Transfer Tax a Factor in Slowing Real Estate Market
January 6th, 2009 Categories: Real Estate News
A study by C.D. Howe Institute says that the City of Toronto Land Transfer Tax (LTT) “has had punishing effects on the Toronto housing market, reducing transactions and lowering average prices.”
In Sand in the Gears: Evaluating the Effects of Toronto’s Land Transfer Tax authors Benjamin Dachis, Gilles Duranton and Matthew A. Turner say the LTT caused a 16% decline in the number of single family homes sold after January 2008 and a 1.5% reduction in the average price.
“We calculate that in its first year, the LTT will cause a reduction in household mobility—at least 3,500 families in the municipality of Toronto will stay in houses that are too big or too small, or are too far from their workplace or school, “ says the study. “The dollar value of this lost mobility is about $1 for every $13 of revenue that the LTT generated for Toronto’s coffers, or about $12 million per year. W also find that the LTT has led to significant new administrative expenses.”
The study argues that raising property taxes would have not had the same 
impact and would have raised the same amount of money. “It follow that the welfare of Toronto residents could be improved if the city reduced its reliance on the LTT in favour of the pre-existing property tax,” says the study.
The Toronto Real Estate Board expressed concern that the tax has had a negative economic impact, to the tune of about $170 million in 2008, in addition to the housing slow down.
“When people buy a home, they usually spend thousands of dollars on related things like renovations, furniture and appliances,” says TREB president Maureen O’Neill. “Thousand of Toronto jobs depend on this spending. Any city policy that impacts housing sales has a direct impact on the city’s economy and jobs.”
The city of Toronto was hoping to raise $240 million per year with the LTT. The combination of the impact of the taxes, a stagnant economy and stalling housing market could mean that Mayor David Miller was optimistic.
| Currently Comments Off