Milton Real Estate

U.S Interest Rates

2008-03-24T01:10:00.005-04:00

On March 18th, 2008 U.S central bank cut its key lending rate by three-quarters of a percentage point, making the overnight lending rate to 2.25 per cent . They have now cut interest rates by two percentage points since January and some say the reason for this is to restore confidence to financial markets and prevent a inevitable slide into recession.

As a result of these drastic cuts, the Canadian government will soon follow the actions of the U.S and cuts their rates aswell. Typically, with a cut in interest rates the price of homes should increase. However I believe that we are seeing the affects of the weak U.S housing market here in Canada. Even though it will be more affordable for families to finance the purchase of a home, I don't believe the price of homes will continue to rise here in Canada. I forsee a softer housing market and maybe even abit of a decline, however I don't believe we will suffer the same fate as the U.S.

For more information on interest rates or anything related to the housing market, please contact me at rick@rickaurora.com

Rick Aurora
RE/MAX Real Estate Centre Inc.

Housing Market Slow Down

2008-03-17T16:08:00.004-04:00

Snowfall cools Canadian home sales in February - "Sales in Canada's major markets fell 6.4 percent in February from January, to 26,588 units, according to CREA, an industry trade organization representing over 90,000 realtors.
The majority of the decline came in Toronto, which saw sales drop 11.2 percent. Canada's biggest city accounts for about one-quarter of the total for the country's major markets."

Reuters, published on March 14th, 2008.

We are starting to see more signs of a market slow down in the housing Market. I believe that we are going to eventually start to see the affects of the U.S Recession here in Canada. I don't think the Canadian housing market will see the same housing market decline we are seeing in the U.S, but we will start to see the affects of it. The housing market in the U.S has been a big topic of discussion in the last 2 years, which a decline in home values in some of the larger states. However the Canadian market has continued to grow in those same 2 years, which leads me to believe we don't have to worry that we will suffer the same fate as our neighbours in the U.S.

For a free Market Evaluation on you Home,

Call Rick Aurora, RE/MAX Real Estate Centre 905-456-1177

Selling Your Home! What You Should Know!

2008-03-14T16:52:00.002-04:00

Choosing a REALTOR
As a seller, your relationship with a REALTOR is vital so meet with several before making a final decision. A good place to start is right in your neighbourhood. Check FOR SALE signs to see which REALTORS are doing business in your area. Ask them about their track record, their knowledge of neighbourhood selling prices and other reasons why you should list with them. Choose a REALTOR you feel comfortable with; one who will handle the sale of your home as if it were his or her own.
What to Expect
Your REALTOR will help you understand the selling process. He or she will provide you with a full explanation of what to expect so you are not faced with any surprises along the way.
Getting to know you
One of the first things your REALTOR will ask is, why are you selling your house? Your REALTOR will also explore any time constraints you may have, your financial situation and any future plans. It’s all part of getting to know you so the sale will be handled to your complete satisfaction.

Setting the Price

Arriving at an accurate estimate of value for your home is one of your REALTORs prime tasks. It involves analyzing your home and comparing it to other, similar houses for sale or recently sold in the neighbourhood. It may also include a broader market survey, using sales statistics available only to qualified REALTORS. In the end, you will be sure the price you set reflects the true value of your home under current market conditions.

If you're thinking about selling or buying real estate in the Milton area, I'd like to help. Please contact me at rick@rickaurora.com.